Posted on 02/17/2015 10:29:59 AM PST by Duke C.
At about $50 a barrel, crude oil prices are down by more than half from their June 2014 peak of $107. They may fall more, perhaps even as low as $10 to $20. Here’s why.
Well it has been steadily rising for a while now.$10 would be nice but I don’t expect it.
locally weve been warned by the daily fish wrap paper that “Low Gas PrIces” are coming to an end....
If you know what’s going to happen in the future, then you should be buying futures. But experience has shown that only half of these predictions come true....
Later
I’ll take the over, Alex.
Then why did my gas prices go up another dime last night?
Slight correction. About half of the predictions "claim" they came true. In reality, I'd put total truth closer to 30%. This is because so much speculation is parced with hypotheticals, premise disclaimers and alternate endings. I have seen so many economists and analyists claim they were right after the fact. But upon closer examination, we find that they called it both ways with "outs". It's clever and only the wins grab the headlines. It's like Nostradomas. Make a million prediction and when 20 of them turn out to come true, the man could OBIOUSLY see the future (subject to symbolic interpretation of course).
8 minute abs......I have a new Idea.....7 minute abs.
When oil is $120 and people talk about $500 a barrel oil it’s a sure sign the price is about to drop. Now that it’s at around $50 any talk about $10 a barrel oil is a sign it’s about to go up.
Oil going to 1 cent per barrel !!!
NEWS FLASH !!!
And now, an important message:
Oil will now be given away for free by the US government to its sheeple.
It will be rationed based on how well sheeple follow orders.
Oil will be now as cheap as dirt !
And thus we will try to make all the Putinistas on FR tell their master, Putin, that he must surrender the Ukraine to Amerika and Europka !
ONE WORLD GOVERNMENT WILL BE MASTER OF ALL !
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Remember, think stupidly, act lemmingly.
Gary Shilling has been a deflationist for a long time, and he’s been right about lower and lower bond yields, and deflationary pressures on pricing. At some point, he’s gonna be wrong, and inflation will return.
On this one... oil at ten bucks/barrel... I think he’s gone one prediction too far. I stake my reputation on it (limited as it is).
Take note. Must economic predictions are wrong.
Prices around here have risen about 18-22 cents per gallon in the past 10 days.
Seems a lot of production would stop well before $10, and that would necessarily keep the price higher.
already going up here in SW Pa ... at about the same pace as they came down ... which is, IMO ... relatively fast.
“Oil going to 1 cent per barrel !!!”
I heard they were going to pay you to take it they have so much their out of storage spaces. I’m selling empty barrels when you need some!
But when you place your actual bet in the futures market, you either win or lose.
But these forecasters have found that if they write articles, they’re certain to be paid whether they’re right or they’re wrong. So what they do makes sense.
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