Oil hits $100

Oil hits $100

January 2nd, 2008 | Posted in Environment & Energy

In case you missed the news today, oil hit $100 a barrel on the NYMEX oil futures market today, for the first time. This was the price, briefly, for oil to be delivered in January 2008. Before the day ended the price dropped back to $99.62.

As I note in my Outlook for 2008, it is unlikely that oil prices will exhibit the old historical trend of falling way back from the current price records. Rather, the new floor price may stay in the $90 range.

Glen Hiemstra is a futurist speaker, consultant, blogger, internet TV show host and founder of Futurist.com. To arrange for a speech contact Futurist.com.

About Glen Hiemstra

Glen Hiemstra is the founder and owner of Futurist.com. An internationally respected expert on future trends, long-range planning and creating the preferred future, Glen has advised professional, business, and governmental organizations for two decades.

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