Oil prices enter "super-spike" phase

LONDON (Reuters) - Already sky-high oil prices have entered a "super spike" phase that could last for four more years as global demand booms and supply growth slows, Goldman Sachs analysts said Tuesday.

"We disagree with what appears to be a growing consensus that crude oil prices reached their peak levels earlier in 2005," said the firm's Global Investment Research.

The analysts said oil demand remained resilient and supply growth lackluster, prompting them to keep their average U.S. crude price forecast for next year unchanged at $68 a barrel.

and also:

US Energy Department: $50-plus oil here to stay

WASHINGTON - Oil prices are projected to remain well above $50 a barrel for years to come, resulting in a greater shift to more fuel efficient cars and alternative energy sources, according to an analysis released Monday by the Energy Department.

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