Trinitymaster

$35 Oil: Steve Forbes Was Off by Two Years

About ten years ago, oil was $10/barrel. Exxon made tons of money back then as well. At $25/barrel, they would still make tons of money. Until oil falls to the same price as water, oil will continue to be pure profit




On Dec 19 01:14 PM Tesa wrote:

> My mother who has never touched stocks in her life can easily make
> predictions like that too. If its up then one can predict that it
> will do down and 2 years is a long time. But did he predict the housing
> market collapse and credit market collapse.
>
> My prediction is that oil will go up to 100$ again. Let me know when
> I end up right. I may in fact be an oracle.
>
> What I do know is that break even for XOM extracting oil is about
> 35$ and that is a cheap one for north America and if it oil prices
> go bellow then expect major shutting of oil wells and with credit
> market being poor expect the same scenario for them as auto sector.
> You can also remind me if end up to be an oracle predicting that.