Pretty Fuc$ing sad isnt it, just 6 months ago $200 oil was the outlook because demand was out of control, how the Fu$k could anyone not see oil in a damn bubble, I mean it was right in front of you, now after oil has fallen over $100 a barrel they come out with a $45 a barrel call for 2009, great work guys, keep it up. Demand for oil will continue to drop as this recession grows deeper and deeper, I would not be surprised at all to see $25 oil in the 1st half of 2009, in the last year along Americans have driven 9 Billion less miles, demand will continue to head south as unemployment rises and demand around the globe drops significantly, it will take years before oil sees $100 again and $200 probably not for another decade or 2, maybe never as newer technologies come about. UPDATE 2-Goldman, once warning of $200 oil, sees $45 in 2009 Fri Dec 12, 2008 5:37am EST SINGAPORE/LONDON, Dec 12 (Reuters) - Goldman Sachs' (GS.N: Quote, Profile, Research, Stock Buzz) energy equity research team, which predicted a crude oil spike to $200 a barrel earlier this year, slashed on Friday its 2009 forecast to just $45 as demand deteriorates. The team led by Arjun Murti, who made waves in 2005 by calling crude's ascent to $100, also said prices would bottom out early next year and that a shift from "demand destruction" to "supply destruction" would ultimately revive oil's rally. In a separate report, Goldman's commodities research team also cut its 2009 forecast to an average $45 and predicted world oil demand would fall by 1.7 million barrels per day (bpd) and help drive oil prices down to $30 a barrel in the first quarter. "We expect that an additional 2 million barrels per day (bpd) of OPEC supply cuts will be required in 2009, along with a 600,000 bpd reduction in Non-OPEC production, in order to rebalance the market," the team led by Jeffrey Currie wrote. But both groups saw prices recovering in the near term. Murti's team predicted a return to positive demand growth and shrinking non-OPEC supply would lift prices to $70 a barrel by 2010 and to $105 by 2012. "We do not believe oil markets are on-track for a decade-plus period of weakness like seen in the 1980s and 1990s," they wrote. Oil has collapsed more than $100 from its July peak as the dawning of a global recession drives demand lower in major economies. But analysts and officials are warning that a prolonged period of cheap prices could set the stage for another rally if new investment is halted. U.S. oil prices CLc1 fell more than $2 a barrel to below $46 on Friday after a bailout plan for struggling U.S. auto makers stalled this week's tenous recovery from a four-year low.
If the fundamentals have changed that much they cannot have been fundamentals in th first place. What actually happems is that the the Brokerage industry has to find fundamnetal justifications for price changes caused by excess fund flows into an asset class.
That's simple; their former CEO is Sec-T. That's what side of the trade they are on. They are always on the other side of the trade. Do you really think they are going to announce something three days before they trade on it? Fuck no. Hank is a fucking criminal. He belongs in prison. Take criminal Bush with him. We need a constitutional amendment to outlaw pardons. A pardon is nothing more then legalized corruption.
that is the beauty of analyst business..............make lots of predictions and some would hit the mark.........then you go around loud mouthing the winners while hiding the facts from the losers. Donald Trump said two months before elections that 'now is the good time to buy real estate'............wonder to pay the heed or refrain from the deed!