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16 May 2008 at 5:50 a.m.
london (MarketWatch) — Goldman Sachs on Friday raised its forecast for the average price of West Texas Intermediate oil in the second half of 2008 by 32% to $141 a barrel from $107 a barrel. “We believe that the market is not defying fundamentals but rather experiencing a structural repricing much like it did in 2004, searching for a new equilibrium against an uncertain long-term supply environment,” the broker said. It added that long-term oil prices will need to continue to rise to bring trend oil demand growth in line with trend supply growth, which stands at around 1% a year. It added that long-dated prices will need to rise on average by 14% above current levels to $148 a barrel.
I sure hope someone in city & county government is paying attention to this reality. While they're busy building recreation centers I wonder if they're even thinking about keeping the snow plows running next winter.
Yes, the market is manipulated. Yes it's going to get worse.
16 May 2008 at 9:36 a.m.
Saw on the news last night that a couple stations in Denver had a price war going on. One at least was selling gas for 2.60 something a gallon!! The police had to be called in to direct traffic. Sure wish someone in Craig would do that, but I doubt that will ever happen.I would hope the plows run next winter, but they might have to cut back on how much they do. I think if they need to watch their pennies like the rest of us, they shouldn't be sweeping the highway shoulders like they were a few weeks ago. Who in their right mind cares of highways 13 or 40 have dirt along the shoulder. When I saw that, I just shook my head and wondered if the State could not find something a little more stupid to spend their gas money on!?!?!?
17 May 2008 at 11:56 a.m.
I agree about the street washing. Avacado farmers have cut down over 30% of their trees because of water cutbacks. Farmers say they don't understand how people are washing their cars while their crops die. It's as if a great big blindfold has been put on mankind.
19 May 2008 at 2:05 p.m.
I'm not talking about street washing. I can see where your coming from, but I do think the town looks better after a long winter to get cleaned up. I was talking about a sweeper that drove down the side of highway 13 and I think it went out past the plant for a long ways and then back into down on the other side of the highway. I could be wrong on the miles it went, but I see that as a huge waste of gas and man power. I thought to myself when I saw this guy driving along sweeping up dirt, could we possibly do anything dumber to throw away money? Here we'd like to re-build Highway 13 to the north and it'll be pretty iffy to get the funds for it, but we can throw away money to sweep a highway. I know, I know, that is peanuts compared to the cost of re-building, but it's still foolish spending to me.
19 May 2008 at 6:22 p.m.
Hey lonelyone, Do you think maybe they are going to paint the highway, would be really stupid to paint without sweeping first don't you think??? Call CDOT and ask.
19 May 2008 at 8:59 p.m.
Well I guess I must be “stupid” as I had not thought of that, but they've not painted either since I saw them sweeping! Maybe that is to come yet.
20 May 2008 at 5:44 p.m.
Ok, I should not have said stupid, how about would not be cost effective to ……I was not calling you stupid, I don't even know you….
21 May 2008 at 8:12 a.m.
its ok! I kind of was calling myself stupid for not thinking that painting was a possible reason for sweeping miles of highway when all I saw was a waste of taxpayer money. You made a good point.
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