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Gold/Mining/Energy : PRVB - Powder River Basin & Gas Corp.
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From: Tadsamillionaire4/11/2005 11:33:35 AM
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The IMF said that rising living standards in China and the rest of the developing world will keep oil prices sky-high for decades to come, with even 100 dollars a barrel not ruled out.But surging demand in emerging economies, headed by China and India, is also high up the list.
Presenting part of the Outlook report on Thursday ahead of its full release next week, IMF officials said high oil prices were now a "permanent shock" for the world.
"To the extent that there is some kind of a supply disruption, 100 dollars a barrel does not seem outlandish," IMF senior economist Raghuram Rajan said in response to a Goldman Sachs study that roiled the markets last week.
The investment bank predicted oil prices could go as high as 105 dollars a barrel over the medium term, with US prices now in the early stages of a "super spike" period and Chinese growth rates showing no signs of flagging.

news.yahoo.com
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