Quote:
Originally Posted by technofreak
It is already the start of the economy downturn...Crude oil prices might escalate to US$200 per barrel by year end. Volatility in the stock market (esp. Dow Jones) everywhere is already obvious signs... 
Cheers,
Techno |
Many economists are predicting this same scenario of reaching USD200 per barrel but I don't quite agree with them, one of the main reason demand ramped up during the last 1 year was mainly due to China's overheating economy plus the constructions & preparations to the Olympics. Once the Olympics is over the demand will naturally tone down.
Moreoever the bitter cure or pill to the rising crude oil prices is another even worst scenario, that is recession, once recession sets in demand will be affected than naturally prices will follow downhill.....
Cheerios.....SS08 ^_^