Friday, November 6, 2009

Roubini Economy could be hurt if oil gets to $100

By Barani Krishnan NEW YORK, Nov 4 (Reuters) - An economist noted for his early warning that the United States was headed for a housing bust and oil shock said on Wednesday that oil's jump to $80 a barrel is unjustified and that a run to $100 may cause economic stress the way record highs near $150 did last year. "Part of the rise may be justified by global economic recovery...but going from $30 to $80 when demand for oil is down to 2005 levels is very difficult to justify," said Nouriel Roubini, chairman and co-founder of the RGE
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