Oil at $120: Here's Why by Michael J. Economides
It would be more amusing had I not been personally involved. Three years ago I was a lone voice outrageously predicting $100 oil, debated on many occasions on national TV by those predicting $50 or even less. The tapes are still available.
Now, $100 seems conservative, others have jumped on that number by the carload and the OPEC president said last week that oil may climb to $200. This, by the way, is the same organization that four years ago was insisting that the “official” price was between $24 and $28, while we were paying $50. Clearly they hoodwinked us.
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