NEW YORK - John Hofmeister, former president of Shell Oil, predicted Americans could be paying $5 for a gallon of gasoline by 2012, in a recent interview with Platts Energy Week television.
Morgan Stanley & Goldman Sachs Forecast $100-per-Barrel Oil in 2011
Goldman Sachs was the first to forecast a $100-plus-per-barrel crude oil price when the bank issued a research report last November, which called for a $110-per-barrel average price for West Texas Intermediate (WTI) crude in 2011. Morgan Stanley released a similar report in January and targets $95-per-barrel of WTI futures by December 2010, with an average price of $100 per barrel in 2011.