Oil markets have entered a ``super-spike'' period that could see 1970's-style price surges as high as $105 a barrel, investment bank Goldman Sachs said in a research report…Wow. Posted by Dwight Meredith at March 31, 2005 06:29 PM | TrackBack"We believe oil markets may have entered the early stages of what we have referred to as a "super spike'' period -- a multi-year trading band of oil prices high enough to meaningfully reduce energy consumption and recreate a spare capacity cushion only after which will lower energy prices return,'' Goldman's analysts wrote.
This is especially frightening to us. I passed a gas station yesterday, and noticed that the diesel price was $2.51. That struck me so hard, I didn't even notice the unleaded price.
Posted by: moos at April 1, 2005 01:02 PM