Thread: Newsweek Warns Oil Prices Could Hit $200 a Barrel in the Next Few Months

Advertisements [ ? ] Newsweek Warns Oil Prices Could Hit $200 a Barrel in the Next Few Months http://www.enn.com/business/article/37283 This spring, America hit a historic point. With average gas prices per gallon edging toward $4, America's notoriously profligate ways started to change fast. Americans are driving less, using mass transit more, buying fewer gas guzzlers, indeed shopping less wantonly in general, and lowering their...

Is it something like, there is nothing we can do about it now, but we will work toward a brighter energy future?

all of a sudden a lot of places where it was previously too expensive to extract oil are going to be economically viable, like oil shale. The bright side is maybe all that development will take the edge off this recession.

in the U.S. There is simply not enough room in their profit margin to function at that fuel cost level. That's why oil isn't going to hit $200.