Here the latest Goldman Sachs pontification on future oil prices:
Oil could be at $20 next year.
In 2008, right before the price of oil collapsed, they said this:
Oil super-spike will move it past $200.
It is worse than a 10x differenc really because we should add in the big dollar depreciation of around 10% in the last 8 years.
Really, if there is one thing I know, it is that Goldman Sachs know nothing about predicitng Oil prices; though perhaps they know a little bit more baout how to generate headlines.
Still, a very evil company encouraging bad investments, so not much change there.
6 comments:
Another thing that's persuading me it's time to take a long Shell position!
In modern inflated currency, what's the old two-bucks-a-barrel equivalent to?
I can't believe anybody takes any notice of these predictions, never mind large chunks of the media giving 24 hr coverage. An investment ( sick) company announcing its strategy would be like a poker player showing his cards before the betting starts. If your not in the club, your one of the saps
Exactly Suff!
dearime - OIl was at $10 a mere 20 years ago. who knows what $2 oil was...my hunch would say around $40.
Exactly Suff!
dearime - OIl was at $10 a mere 20 years ago. who knows what $2 oil was...my hunch would say around $40.
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