RE: Eric Bolling Add to the fact that people have probably never actually followed up on some of this guys calls. I remember when he called a 'reverse head & shoulders' to buy NG with a target of 10. If anyone actually trades NG last spring, you know what happened around June. Obviously traders can't be right all the time, but why these guys even make calls on TV, I have no idea.
How many "retail" investors trade crude oil? yeah, that's what I thought. I'm with GS on this one. Current crude price has a large premium above fair price, it's called speculative nonsense supported by an oil president. There is absolutely zero fundamental underpinnings. As for the "peak oil" group, I suggest you worry more about your water than your gasoline. Current crude reserves will last 1000 years, however your water will be running out within your childrens generation.
WEll you are wrong about this... current crude reserves are roughly 1.2 trillion barrels...and being added to, but at a much slower rate than before... even at 90 million barrels per day use (about 4% higher than what we have now), we have about 35 years of supply...
that's my take: Sell Sell Sell, you sell, price goes up, you lose. Moral of the story according to GS - you're a loser, just accept it and let us manage your capital
You can INVEST in water with a couple ETFs... PHO or CGW... the latter was the one recommended to me.
Oil along with other commodities wont just peak because goldman thinks so. It may dip, but the fundamentals such as a commodities bull market, middle east tensions, and a weakening dollar all point to $100+ oil very soon. Any dip is a buying opportunity.
add oil sands and oil shale and we can easily last for 200 hundred years it just for proven reserves it's likely those proven reserves would go up so add another 100-200 years if we count other substitutes like NG and Coal it's nother 500-700 years so we have already 1000 years to go don't forget about coservation and other types of energy like wind solar nuclear etc. so we probably have 2000-3000 years to go without problems even if conventional oil is over by that time our scientits will find the way to generate fusion energy although I think it will happen within 100 years and all other types of energy will become irrelevant