What a Difference Seven Months Makes

We all remember back in May when Goldman Sachs (GS) issued a report predicting that oil's "super spike" would likely send the commodity to $200 "over the next 6-24 months."

Seven months later, Goldman is now advising clients that "oil prices will fall to $30 a barrel in the next three months."

If the call for $30 oil is as accurate as the call for $200 oil, investors may want to fill up their gas tanks and lock in their heating oil prices asap.

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Comments

[Jackson Cash:]

Why on earth would anyone believe any of this trash!?

Oh, I know, their crystal ball shows the future!

Perhaps they are planning to use TARP funds to buy up the price of oil (again!).

2008 Dec 15 03:30 PM

[KIT:]

Saudi call $75 fair price now we are heading for $30

Were was that call when we were at $145 ?

2008 Dec 15 08:42 PM

[Jason Rines...:]

This is called global volatility. Ahh the joys of interconnectedness and a few dozen people running the globe.

2008 Dec 16 02:28 PM

[33Nick:]

I've noticed that experts feel they better say anything than nothing. After all they have a chance of being right and bragging rights. We just can't believe everything we hear from them. Crystal balls don't always work and their track record are not stellar.

2008 Dec 17 01:38 PM