Oil execs see $100-or-less cost by year’s end

[gunit_sangh]

My guess is that it will drop in October ... pure coincidence that it's right before a national election 

HOUSTON - Even as oil prices ascended to new highs of more than $124 a barrel this week, many oil and gas industry executives say they expect the price to fall significantly by year’s end, a new survey shows.

Fifty-five percent of 372 petroleum industry executives surveyed by KPMG LLP said they think the price of a barrel of crude will drop below $100 by the end of the year. Twenty-one percent of respondents predicted a barrel of oil will end the year between $101 and $110, while 15 percent forecast the year-end price to be between $111 and $120 a barrel.

Nine percent said they expect the price to close the year where it’s been this week — above $120 a barrel.

http://www.msnbc.msn.com/id/24528475/

[they call me MR. GRUMPY god damn it!]

is this a conspiracy to get little mac elected or a conspiracy to derail any development of a reality based energy policy??

[gunit_sangh]

they know that once we have a president who will appoint an attorney general who will use the full power of the DOJ to investigate market manipulation and price gouging their free ride is over     

hint -- that won't be mccain

[Peter1469]

The market manipulation is the rumor that oil is a scarce resource.