Thursday, February 21, 2008
I've been arguing for several months now -- on the basis of no expertise whatsoever -- that oil would hit $60 a barrel again before it hits, say, $140. Of course, I could be wrong. Oil prices have surged more than 16% in just two weeks, and have now powered past $100. I blame global cooling.
It is hard to predict the direction and rate of change of oil prices, as this three year-old article from Forbes makes clear.
Perhaps you have been visiting with my banker? When I was getting my operating note renewed, he told me if BHO or HRC was elected, "The tone would change in the Middle East and oil would fall to $60 per barrel."