Thursday, June 26, 2008

World Economy Would Collapse If Oil Hit $200,

By Shigeru Sato and Yuji Okada

June 25 (Bloomberg) --
The global economy would collapse if oil hit $200 a barrel, said the top energy analyst at Germany's largest bank.

``Two-hundred dollar oil would break the back of the global economy,'' Deutsche Bank AG's Chief Energy Economist Adam Sieminski said in an interview today in Tokyo. ``Next step after $200 would be global recession and bad news for everybody.''
Read more: World Economy Would Collapse

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