[RockinRight]

So what happens when the economy dips into a depression thanks to $4.84/gallon gas prices?

[aynrandfreak]

GS are dem investment bankers. They want the economy to do as well over the next four years as George Soros.

[SouthernFreebird]

Well thank goodness we had that' blood war for oil' /s

[Eric in the Ozarks]

I believe this is called, "talking your book."

[Recovering_Democrat]

I'm not worried. The price will be what the market will bear, no more and no less.

Now then, perhaps we can get RID of the ridiculous restraints on the creators of energy, and the confiscatory taxes on the consumer leveled at the federal and state levels. Those are additional costs NOT determined by the market, but ADDED by an entity that does nothing to create the wealth caused by the use of petroleum.

[Brilliant]

I.e., plan to walk on your next vacation. If you can share a ride to work, it'll cost you the same as before.

[snowsislander]

For what it is worth, Goldman takes significant proprietary positions in commodities trading and in the energy business.

[ndkos]

Paging Henry Blogett...

[HKTechBoy]

I can assure you, GS cares more about making money than who's in the white house.

Also, the demand for Oil in China and India is continuing to grow. OPEC is at capacity, the prices are only going to go up, simple Supply/Demand market economics.

[M. Espinola]

Phil Flynn's overview is reasonable: '$105 oil is technically possible but not likely for at least 3 years and only if a major supply disruption, such as a halt to imports from Saudi Arabia, occurred. 'It's just another reason to be long. There's no doubt we're in a new bull market for crude oil.'

Major supply disruptions of Persian Gulf based oil could very well occur when Iran's rouge regimé is finally dealt with.

Iran's fanatical Muslim mullah's, once confronted with being overthrown, unless prevented, might attempt to target their missiles directly on the largest oil fields in Arabia as a quick method to seriously provoke chaos in the international financial markets. Iran's terrorist promoting Islamic clerics could also lash out in another vicious outburst by deliberately sabotaging Iran's oil infrastructure, as Saddam thugs inflicted on the majority of Kuwait's oil wells toward the end of the Gulf. War.

Oil could conceivably soar well over $100 a barrel triggered by energy trader panic, soaring prices, if news were to break indicating the Saudi oil fields were ablaze after attacked by Iran.

All out pandemonium sweeping the energy markets could even result in crude oil temporally rocketing to $150 to $200 a barrel, if the situation in the oil exporting Gulf were to become dangerously chaotic. Don't laugh, in 1999 the cost of a barrel of crude dipped below $11 a barrel, remember?

Keep in mind prior to the Arab Oil Embargo of late 1973 daily oil prices hardly ever moved more then a few pennies per barrel a day. Currently daily $1 to $2+ price jumps (up or down) are common place.

Removing this much exported oil off the market will be extremely deleterious to the world-wide oil dependent economy.