Poll results: Most believe $100 oil to come this year
It was a close race, but most of you who voted on the “$100 oil” poll believe the fossil fuel will rise past that symbolic $100 threshold this year. In total 10 people picked 2006, with 2007 and 2008 tied at 8 votes each. Only 5 believed it would happen in 2009 or later.
Okay, didn’t get a huge response with that one, but it’s gradually building — these things take time. Next poll will be posted this week so keep your eyes open. If anybody has suggestions for a question let me know.
Tyler Hamilton is associate publisher and editor-in-chief of Corporate Knights magazine and former business columnist for the Toronto Star. This blog is a personal project started in April 2005.
January 31st, 2006 at 8:53 pm
Tyler:
While I certainly root for higher oil prices to spur clean energy innovation, I would certainly take a queue from the very well establsihed, very well “oiled” (sorry for the pun), very lucrative and large machine that is out there to predict the price of oil. It is called the spot market. Long term futures for oil are still in the $50 range, and they only recently moved up from the $20 range. The people who settle on this price do it for a living and do so by betting huge sums. I would be inclined to believe them. The markets are only now coming to realize that the long term average price won’t be in the $20 range.
Mark Brandon
Sustainable Log – News and Views for Socially Responsible Investors
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