One week left for $100/barrel oil
 

Back in July legendary peak oil fearmonger Matt Simmons predicted
$100 barrel by January.

There's still time. One week left.

natedogg

Re: One week left for $100/barrel oil
 

Did he also predict when this cesspool of a planet with its most wise inhabitants receive their comeuppance and get boiled alive?


Le Misanthrope

Re: One week left for $100/barrel oil
 

June 1999: http://www.businessweek.com/1999/99_...39/bw39002.jpg

Re: One week left for $100/barrel oil
 

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June 1999: http://www.businessweek.com/1999/99_...39/bw39002.jpg

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Wow, strawman of the year.

Nobody knows anything
 

[ QUOTE ]
Back in July legendary peak oil fearmonger Matt Simmons predicted
$100 barrel by January.




[/ QUOTE ]I can tell you for a fact that the same year that the price of crude oil started climbing and hit $25 per barrel, the Saudi Arabian state budget was based on a range of $10-15. And if they don't know, nobody knows.

It's not just the Hollywood adage ("Nobody knows anything") that holds rock solid, it's also the one about having a monkey throwing darts at stock selections.

Read the actual article
 

Funny how the title of the linked article says in quotes that oil "will hit $100 by the winter" and then when you go and read the article it doesn't exactly say the same thing:

[ QUOTE ]
But Simmons believes surging demand will keep prices bubbling well above $50. 'We could be at $100 by this winter. We have the biggest risk we have ever had of demand exceeding supply. We are now just about to face up to the biggest crisis we have ever had,' he said.

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From this it seems pretty apparent that he's PREDICTING that oil prices will keep bubbling above $50 a barrel, and SPECULATING that oil COULD reach $100 by winter. If you're gonna trash the guy at least be able to comprehend what he's saying.

I hear you
 

[ QUOTE ]
Funny how the title of the linked article says in quotes that oil "will hit $100 by the winter" and then when you go and read the article it doesn't exactly say the same thing:

[ QUOTE ]
But Simmons believes surging demand will keep prices bubbling well above $50. 'We could be at $100 by this winter. We have the biggest risk we have ever had of demand exceeding supply. We are now just about to face up to the biggest crisis we have ever had,' he said.

[/ QUOTE ]

From this it seems pretty apparent that he's PREDICTING that oil prices will keep bubbling above $50 a barrel, and SPECULATING that oil COULD reach $100 by winter. If you're gonna trash the guy at least be able to comprehend what he's saying.

[/ QUOTE ]

Well, I did not "trash the guy". I believe the guy knows as much as anybody about the price of oil three months down the road : pretty much nothing.

Re: I hear you
 

[ QUOTE ]
[ QUOTE ]
Funny how the title of the linked article says in quotes that oil "will hit $100 by the winter" and then when you go and read the article it doesn't exactly say the same thing:

[ QUOTE ]
But Simmons believes surging demand will keep prices bubbling well above $50. 'We could be at $100 by this winter. We have the biggest risk we have ever had of demand exceeding supply. We are now just about to face up to the biggest crisis we have ever had,' he said.

[/ QUOTE ]

From this it seems pretty apparent that he's PREDICTING that oil prices will keep bubbling above $50 a barrel, and SPECULATING that oil COULD reach $100 by winter. If you're gonna trash the guy at least be able to comprehend what he's saying.

[/ QUOTE ]

Well, I did not "trash the guy". I believe the guy knows as much as anybody about the price of oil three months down the road : pretty much nothing.

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My bad, I should've used the quotes [img]/images/graemlins/smile.gif[/img]. I was referring to the OP but probably clicked "reply" on your post since it was at the bottom of the thread. Your point is valid, however.

Your Portfolio Outperformed the Monkeys
 

[ QUOTE ]
[ QUOTE ]
Back in July legendary peak oil fearmonger Matt Simmons predicted
$100 barrel by January.




[/ QUOTE ]I can tell you for a fact that the same year that the price of crude oil started climbing and hit $25 per barrel, the Saudi Arabian state budget was based on a range of $10-15. And if they don't know, nobody knows.

It's not just the Hollywood adage ("Nobody knows anything") that holds rock solid, it's also the one about having a monkey throwing darts at stock selections.

[/ QUOTE ]


C'mon I'm sure you've made a fortune off companies whose stock prices have appreciated a great deal due to the rise in the price of oil.

Re: One week left for $100/barrel oil
 

[ QUOTE ]
Back in July legendary peak oil fearmonger Matt Simmons predicted
$100 barrel by January.

There's still time. One week left.

natedogg

[/ QUOTE ]
Where did he do the prediction?
Where did he say january?