Open Thread

For general discussion and debate. Possible talking point: $200 oil?

Oil prices are increasingly likely to hit between $150 and $200 a barrel over the next six to 24 months, said Arjun N. Murti and other Goldman Sachs analysts in a research report. "We believe the current energy crisis may be coming to a head, as a lack of adequate supply growth is becoming apparent and resulting in needed demand rationing in the OECD areas in particular the United States," the Goldman Sachs analysts wrote in the report dated Monday.

Be advised that Goldy predicted $105 oil back in March 2005 when crude was at $50. So, they've been pretty darned prescient. Of course, also be advised that this is the largest commodity trading house in the world, and, therefore, has a vested interest in these prices continuing to rise.

That said, will this prediction come true? Is there anything we can do to prevent it? If oil goes to $200 in the next six to 24 months, where do gas prices go, what happens to inflation, and how badly does this impact the economy? Finally, how will this impact the November elections?