Economist: Oil to Reach $150

 During the great oil spike of 2008, the price of a barrel of crude jumped over $100. It even reached about $144 before its giant crash. Despite this, it never quite reached the $150 mark. Now, with tensions in Libya coupled with a new round of quantatative easing-- oil may be ready to peak again.

At least, that's according to economist Barry Roubini. Roubini's comments say that the price of crude is just starting a potentially meteoric rise:

Last Wednesday, he made another bold prediction: “If troubles spread to other countries such as Bahrain and Saudi Arabia, this could push oil prices up to $140 to $150 per barrel, which could trigger a double-dip recession in the periphery of Europe and the U.K.”

Sounds dangerous. A double-dip in Europe would likely seep over into the American economy. Good thing we banned oil drilling in the Gulf!



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