Friday, May 9, 2008

Goldman Sachs Predicts Oil "Super-Spike"

Investment bank Goldman Sachs portends more gloom and doom in their latest oil futures prediction. A search through their previous prognostications seems to back up the story. They were some of the first to predict triple digit per barrel prices.

An excerpt:

The "super-spike" theory argues that a lack of adequate supply growth along with price-insulated demand growth in non-OECD countries will lead to a dramatic and continuous rise in oil prices that will ultimately lead to a sharp correction in oil demand.
A counter-thought:
Perhaps they really believe the price has topped out for the moment and need some buyers...

Another look at the analyst behind the theory:

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