# Oil ‘will hit $100 by winter’

- Link: https://greenlivingguy.com/2005/07/oil-will-hit-100-by-winter/
- Published: 2005-07-05T00:57:00-04:00
- Author: greenlivingguy

Saw this on [EV World](https://web.archive.org/web/20180416215109/http://www.evworld.com/)
about surging demand of oil and thought it was interesting.

#### Oil ‘will hit $100 by winter’⏎  Worst-ever crisis looms, says analyst · Surging demand to keep prices high Heather Stewart, economics correspondent

[Oil prices](https://greenlivingguy.com/2012/09/the-real-cause-of-high-oil-prices/)
could rocket to $100 within six months, plunging the world into an unprecedented
fuel crisis, controversial Texan oil analyst Matt Simmons has warned.

![Bp oil spill](https://i0.wp.com/greenlivingguy.com/wp-content/uploads/2014/10/
bp-oil-spill.jpg?resize=400%2C300&quality=52&ssl=1 "BP Oil spill - The Green Living
Guy")

Although, after crude surged through $60 a barrel last week, nervous investors were
pinning their hopes on a build-up in US oil-stocks to depress prices in the coming
months.

#### However, Simmons believes surging demand will keep prices bubbling well above $50. ‘We could be at $100 by this winter. We have the biggest risk we have ever had of demand exceeding supply. We are now just about to face up to the biggest crisis we have ever had,’ he said.

As a result, [OPEC](https://greenlivingguy.com/2016/12/electric-cars-may-take-an-opec-sized-bite-from-oil-use-says-bloomberg-markets/)
producers held emergency talks last week to consider making their second 500,000
a barrel increase in production quotas.  Yet, the discussions suspended last Thursday
after prices dipped back below $60.

##### Therefore, the looming oil crisis is not high up the agenda at this week’s G8 meeting.  Although, heads of state are expected to repeat their call for greater transparency about their oil reserves.

For the entire story at [http://www.guardian.co.uk/business/2005/jul/03/oilandpetrol.news](http://www.guardian.co.uk/business/2005/jul/03/oilandpetrol.news)

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 greenlivingguy

 The Green Living Guy, Seth Leitman is an independent power producer, a green living
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