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.
