Democratic Underground - Look at it in this context though... Article from 08-30-05

Reply #34: Look at it in this context though... Article from 08-30-05 [View All]

converted_democrat

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Mon Apr-17-06 11:36 AM
Response to Reply #1

34. Look at it in this context though... Article from 08-30-05

Edited on Mon Apr-17-06 11:40 AM by converted_democrat

http://www.forbes.com/business/feeds/afx/2005/08/30/afx2195813.html

SYDNEY (AFX) - Oil prices are set to crash from this week's record highs as a speculative market bubble bursts with an impact that could make the hi-tech bust of 2000 'look like a picnic', business publisher Steve Forbes has predicted.

Forbes said the high oil prices currently dampening the US economy, which peaked at more than 70 usd a barrel yesterday as Hurricane Katrina headed for the US Gulf Coast, would fall to 30-35 usd a barrel within a year.

'I'll make a bold prediction... in 12 months, you're going to see oil down to 35-40 usd a barrel,' he said, according to Agence France-Presse.
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So he's either full of BS, or they've been planning the attack on Iran for awhile.. Or both..

on edit- I think Iran will block the Strait of Hormuz, and make prices go through the roof..

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Reply #34: Look at it in this context though... Article from 08-30-05 [View All]