Crude oil may rise to between US$150 and US$200 a barrel within two years as growth in supply fails to keep pace with increased demand from developing nations, Goldman Sachs Group Inc analysts led by Arjun Murti said in a report.
New York-based Murti first wrote of a "super spike" in March 2005, when he said oil prices could range between US$50 and US$105 a barrel through next year.
The price of crude traded in New York averaged US$56.71 in 2005, US$66.23 in 2006 and US$72.36 last year. Oil rose to an intraday record of US$120.93 yesterday on speculation demand will rise during the peak US summer driving season.
"The possibility of US$150 to US$200 per barrel seems increasingly likely over the next six to 24 months, though predicting the ultimate peak in oil prices as well as the remaining duration of the upcycle remains a major uncertainty," the Goldman analysts wrote in the report on Monday.
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PLUGGING HOLES: The amendments would bring the legislation in line with systems found in other countries such as Japan and the US, Legislator Chen Kuan-ting said Democratic Progressive Party (DPP) Legislator Chen Kuan-ting (陳冠廷) has proposed amending national security legislation amid a spate of espionage cases. Potential gaps in security vetting procedures for personnel with access to sensitive information prompted him to propose the amendments, which would introduce changes to Article 14 of the Classified National Security Information Protection Act (國家機密保護法), Chen said yesterday. The proposal, which aims to enhance interagency vetting procedures and reduce the risk of classified information leaks, would establish a comprehensive security clearance system in Taiwan, he said. The amendment would require character and loyalty checks for civil servants and intelligence personnel prior to
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