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BBC NEWS | Business | Oil price 'likely to reach $200'

news.bbc.co.uk — The price of crude oil could soar to $200 a barrel in as little as six months, as supply continues to struggle to meet demand, a report has warned.

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  • PlanetSyS, on 05/08/2008, -0/+0It's a bit of a self-fulfilling prophecy. Goldman Sachs puts out a report saying that a $200 barrel of oil is "likely". Speculators bid up the price of oil futures in response. No one wants to short oil because hey, it's going to $200 a barrel. And before you know it, boom - $200 oil. The only upside to $200 oil is that it will (hopefully) force people to break their addictions to oil, which will increase supplies and help to drive down oil prices.
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