Deloitte analysts expect oil, gas prices to stay high

01/02/2006
Deloitte & Touche LLP analysts foresee continued strength in crude oil prices for more than a year and expect natural gas prices to remain high throughout the winter.“We won’t see $40/bbl oil again in our lifetimes,” on the New York Mercantile Exchange, Richard S. Woodward, a principal of Deloitte Consulting LLP, told reporters last month at the accounting firm’s annual energy conference in Houston.Oil futures prices might not drop below $45/bbl on NYMEX for decades, he added, noting that oil and natural gas prices have gone up steadily since 2000 while the US economy has remained strong.“That’s an extraordinary combination that, frankly, we haven&r...
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