3/13/08 - 20:40 GMT - Every World Oil Benchmark Over $100 - 6/11 Over $110

[hatrack]

Crude oil spot prices
updated: 13 March 2008 20:40 GMT
USD/bbl
Name Last Change % Time Prv Cls 1 week 4 weeks 3 months 1 year 3 years
Brent Blend 109.92 1.18 1.07 19:03 107.53 101.7 94.67 92.04 60.25 53.25
Tapis 111.72 0.84 0.75 11:03 110.2 104.34 98.69 96.24 64.51 55.62
Alaska North Slope 110.21 0.48 0.44 20:03 108.45 104.79 92.17 91.26 56.99 50.45
Bonny Light 112.62 1.18 1.05 19:03 110.23 104.3 97.02 94.44 62.84 53.75
Dubai 1M 100.25 1.15 1.15 19:03 98.12 96.72 88.88 88.95 57.54 46.02
Forties 110.87 1.18 1.06 19:03 108.08 101.55 94.72 91.14 60.25 53.9
Louisiana Sweet 111.66 0.18 0.16 20:03 110.19 106.72 97.2 97.29 62.01 54.65
Minas 108.27 1.39 1.28 11:03 107.26 103.22 94.14 90.84 60.86 50.42
Oman 1M 100.14 2.71 2.71 11:03 98.42 93.6 89.56 85.23 58.07 46.61
Urals 105.57 1.28 1.21 19:03 103.23 97.55 90.72 89.89 57.29 48.55
WTI 110.18 0.32 0.29 18:03 108.73 104.45 93.28 94.41 58.94 54.4

http://www.upstreamonline.com/market_data/?id=markets_crude

[phantom power]

1. whee

[Speck Tater]

2. Last week the Energy Inforamtion Agency predicted $115 oil, but not till 2030!

Talk about being off the mark, just this week they predicted oil ould drop back to $57, and wouldn't hit $115 for another 22 years.

--quote--

Last week the Director of the Energy Information Administration went up to Capitol Hill to testify before the Senate Energy and Natural Resources Committee on the EIA’s annual Energy Outlook for 2008. This outlook,updated each year, attempts to take into account all known trends and projections and come up with estimates of the US’s energy posture 22 years from now. Of all the EIA’s efforts, this one has long been the most controversial and this year is no exception. What is most disheartening is that the EIA claims to have considered: “(1) growth in world liquids consumption, (2) the outlook for conventional oil production in countries outside the Organization of the Petroleum Exporting Countries (OPEC), (3) growth in unconventional liquids production, and (4) OPEC behavior” in developing their projections

The head-line grabber from the presentation is that something called “real world” crude oil will decline from its current $105 a barrel to $57 by 2016. Even in the EIA’s worst imaginable case, oil gets all the way to $115 by 2030.

-- end quote -- more at link

http://www.energybulletin.net/41466.html

[phantom power]

3. Auspicious day. Gold broke $1000.

[JDPriestly]

4. Our current bubble -- oil futures, oil spot market.