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Thursday, November 15, 2007

Are we going to hit $100 per barrel?

Secretary-General Abdullah Al-Badri told a press conference in Saudi Arabia, the world's largest producer of oil, that he saw no reason for oil to even hit $100.

Where are we heading? Will oil prices shoot sky-hight to $200 per barrel? Or will it drop back down to a level we are more comfortable with?

For those of us playing around with the test tubes in the renewables research labs are still yet to really get going. Will the prices sustain and stay on a high level?

Biofuels will never be a big part of the oil business. It's better to think in terms of something that has a higher value than driving around in a big van. Biofuels should be looking for an alternative niche market.
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