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Microcap & Penny Stocks : Rat dog micro-cap picks...

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To: Baton who wrote (30600)	8/1/2006 4:57:18 PM
From: Bucky Katt	Read Replies (1) of 48461

$100 crude oil on the way?> The oil minister of Venezuela, the world's 5th largest oil exporter, has said that oil prices could reach $100 a barrel. Rafael Ramirez said prices were still lower today in real terms than during the oil crisis of the 1970s, but that could change. "The prices we are seeing today are in today's dollars,” Ramirez said, on Thursday. "For us to have the same amount of revenues that we had in 1970, '74, you'd have to put the oil price close to $100 a barrel. They could reach that given certain factors." Ramirez said it was "not possible" to return to earlier prices of about $20 a barrel. Earlier on Thursday, Ramirez told Venevision television that "geopolitical problems" have driven up energy prices in a way that the Organisation of Petroleum Exporting Countries is powerless to stop. Ramirez said Venezuela will discuss oil prices with other OPEC members in Qatar, where some ministers are gathered for a natural gas conference. The oil minister said the limits of worldwide refining capacity and OPEC members' inability to boost output made it difficult to counteract price rises.

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