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Sat, Jun 21st - 4:16PM

$200/Barrel Oil

 

$200/Barrel Oil

According to oil industry insiders it is only a matter of years before gasoline prices reach $15 US per gallon. People are complaining right now about $4/gallon gas, but that is barely the beginning. Some analysts are expecting the price of a barrel of oil to skyrocket to $400 per barrel by 2012. Many are suggesting it will reach $200 within the next year alone.

Why? Contributing factors, including the possibility of nuclear war with Iran in the Middle East. Just the threat of nuclear war will be enough to shoot prices straight up.

There are also conspiracy theorists who believe the oil industry is deliberately inflating prices worldwide in order to gouge consumers. A combination of market tension, greed and economic dependence practically guarantees that prices will continue to skyrocket.

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