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Contributing to the slide in oil is Goldman's call for "a substantial pullback" in prices. David...

Contributing to the slide in oil is Goldman's call for "a substantial pullback" in prices. David Greely says supplies are significantly less tight than 2008, the last time prices were in this neighborhood... hey, wasn't Goldman calling for $200 oil then? USO -2.7%, BNO -2%.
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Comments (4)
  • Ohrama
    , contributor
    Comments (532) | Send Message
     
    I don't know if he has taken into account that 1) Part or the total of the 20% of the power that Japan derives from nuclear power might have to be obtained from other sources; 2) Other countries putting their nuclear option on the back burner; 3) As long as our QEs (and even otherwise due to their natural growth) keep pumping the stock markets of emerging countries such as India, we are going to see more consumption in those countries (look at the autos being sold in those countries and the growth rate); 4) And a good part of our population have gone back to the big trucks and the SUVs.
    So, if there is a pull back, it would only be temporary since those sitting on useless dollars might decide to convert them for the black gold!
    12 Apr 2011, 11:55 AM Reply Like
  • Yokyok
    , contributor
    Comments (330) | Send Message
     
    meanwhile somewhere someone is working on creating the next manufactured crisis that will drive prices back up.. and it won't take long
    12 Apr 2011, 12:11 PM Reply Like
  • 7footMoose
    , contributor
    Comments (2266) | Send Message
     
    I always feel that anything like this that comes out of the Golden Snake Oil Company is somehow very self serving. Just what has changed in the last week other than oil has hit another recent high?
    12 Apr 2011, 12:31 PM Reply Like
  • DianeLee
    , contributor
    Comments (360) | Send Message
     
    Knee-jerk over-reaction. Simply, it was time for a "take-down" and the $110 figure was telegraphed days ahead of time as the point where the rest of the economy would suffer. Outside possibility, "somebody" (at the WH?) with close ties to GS asked for the brakes. Just sayin.
    12 Apr 2011, 01:30 PM Reply Like
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