scfranklin94

Marc Faber, Jim Rogers and Boone Pickens - Bullish on Oil

I would wait to go long crude until you think that the recession has bottomed out; I'm not sure that we're there yet. Crude might be worth $60 next winter, but if the economy doesn't improve, it could still be in the $30-$40 range. Another thing that the crude bulls haven't factored into their pricing models, is that if we return to a $100+ crude environment and stay there, the long term growth rates in crude demand that they're so fond of will have to be adjusted to near zero, if not negative.