ATT.NET - Email, News, Sports, Entertainment and Games: "$100 Oil: Good For Investors, Not Consumers
By Jeff Cox, CNBC.com Staff Writer NEW YORK (CNBC) -- The rise in oil prices could be just getting started, posing opportunities for investors -- as well as challenges for consumers and hopes for U.S. economic growth.
Consensus estimates are for oil prices to rise to the $100-a- barrel range for 2010, a base case that would reflect a steady pace of economic growth. In an optimistic scenario, gains of that nature merely would reflect growth in the U.S. economy and would not pose an obstacle to what is expected to be a more sustained pace of recovery.
But anything beyond that, such as the estimate from Bank of America Merrill Lynch on Monday for $120 a barrel in 2011, could spell danger. More from CNBC Oil Predictions for 2011 Expect Another Recession in 2012-2013: Strategist Schork: Has Nat-Gas Peaked? ...
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