FALSE. John Rigas, now 83, lied a blue streak several years ago while CEO of Adelphia, sending the company into bankruptcy and himself up the river for the rest of his miserable life.
Oil will not fall below $100 again: Pickens Tue Jul 8, 2008 6:35pm EDT Email | Print | Share | Reprints | Single Page [-] Text [+] NEW YORK (Reuters) - Oil tycoon T. Boone Pickens said on Tuesday crude prices will not fall below $100 a barrel again and that the United States should invest more in natural gas to cut dependence on foreign oil. the #1 oil bull also says: Pickens: Oil May Fall to $100 in Next 2 Years TheStreet.com - Jul 8, 2008 However, Pickens told CNBC that crude could fall back to $100 a barrel in the next two years as consumption patterns adjust to exorbitant prices. ...
The Chinese Olympics will mark the beginning of the great crude oil crash of 2008. If today's lack of enthusiasm in response to a 5.1 million barrel depletion in crude oil stocks doesn't signal a hugely bearish signal on crude, than I really don't have a clue as to what will. Oil has not rallied significantly on the above, Iran's missile tests, Israel's war games, Nigerian issues, Alaskan supply issues, etc., etc. And that, my crude loving friends, is quite bearish, indeed.
Bearish? I don't think so, at least not in the long run. Flat? This is more possible, for a short time tough.