Money Morning Boosts Oil Target Price to $225 a Barrel, Thanks to Continued Scarcity, Burgeoning Demand in China

Money Morning Investment Director Keith Fitz-Gerald - one of the first global financial gurus to predict triple-digit oil prices - has boosted his target price for crude oil from $187 to $225. The case for the target-price increase of 20% was very clear. “The math is really simple here,” Fitz-Gerald said in an e-mail interview from China, where he was heading an investment-research tour. “We are burning through supplies at a rate that’s four times to five times faster than we’re discovering new reserves. Throw in a few [surprises] … perhaps a terrorist event …and add in the accelerating use of oil… SHARETHIS.addEntry({ title: "Money Morning Boosts Oil Target Price to $225 a Barrel, Thanks to Continued Scarcity, Burgeoning Demand in China", url: "http://jutiagroup.com/2008/05/08/money-morning-boosts-oil-target-price-to-225-a-barrel-thanks-to-continued-scarcity-burgeoning-demand-in-china/" });