ANTIESTABLISHMENTARIAN

Finance, Fuel Prices, Economics, Markets

Oil Shale & Pickens Plan

Is this the same Lehman Bros. that only a month ago issued a $200 oil prediction?

NEW YORK (Reuters) – Investment bank Lehman Brothers said Wednesday it slashed its forecast for 2008 world oil demand growth due to a steeper-than-expected slowdown in energy consumption in the United States and other OECD countries.

Lehman added it believes the oil market is “approaching a tipping point” with prices expected to decline to an average of $90 a barrel in the first quarter of 2009. Continue reading

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July 23, 2008 Posted by | peak oil | , | Leave a comment