Mr Crude Goldman's boy, who said 150-200 crude is in the cards makes it very clear, we are in much closer to the end game here, we are in the late stages of the super spike when price destroy's demand= end the cycle.
-we at Goldman don't believe in peak oil
Here is where he is dead wrong, he say's 150-200 crude = 4 and 5.75 per gallon. We are at 120 crude and we have 4 per gallon, 140 crude is 4.75-5 pg, and 160 crude is 5.50 to 6.25, and 200 crude is easily $7 per gallon.
-he said its not a bubble 100% fundamentals
- never once talks about a slowing world economy
- never once talks about the crash in 2006 that took oil from 80 to 50
- here is the kicker, he admits gasoline demand growth has already turned negative, what happens when we are in a full blown recession?
- he falsly expects global demand to stay high, not with $100+ crude forget it!
- he lied about fundamentals, when he mentions supply declines in US, they have been gaining and are at 7-9 year highs!
Conclusion; this guy is full of crap! I agree that his issue's are why oil went from $30 to $80, but they have nothing to do with the recent move from 80 to 140..total manipulation!
He gives one last point in the article " The biggest risk is that emerging-market growth abruptly changes for some reason.( guess maybe price?) ...but if it changes it will change suddenly, That is what we worry about."
Remember this guy! |
