Arjun N. Murti remembers the pain of the oil shocks of the 1970s. But he is bracing for something far worse now: He foresees a 'super spike' — a price surge that will soon drive crude oil to $200 a barrel.
—Louise Story, "An Oracle of Oil," The New York Times, May 21, 2008
A new phrase has crept into the lexicon of oil analysts: 'the
super spike' — an unprecedented hike in oil prices that dwarfs anything before it. For a world teetering on the edge of recession, such a prospect borders on the apocalyptic. For beleaguered British motorists, who have seen the price of petrol rise by almost a quarter over the past 12 months, it is the stuff of nightmares. ...
The Wall Street bank Goldman Sachs predicts a $200-a-barrel super spike is a very real possibility in the near future.
—Amie Doward et al., "£100 to fill up the tank? Just get used to the idea," The Guardian (London), June 15, 2008