BSC says "Our company is worth 80 dollars and there is no problem with liquidity" A few days later bear sterns agrees to sell out for 2 bucks per share. OPEC says "There is no shortage of oil and we have no idea why its trading at 124$ per barrel" Wouldnt that be Scary if OPEC came out next week and says "We only have enough oil left in the world for about a year and then we are empty" Yeah, i know we are not supposed to run out of oil until 2027 with current reserves, but GS says that oil is going to hit 200 bucks per barrel in a year or two. Thats the problem...you never know if these guys are lying trying to prevent a panic or not.
not sure if you have followed opec at all before but these guys have been saying oil was overpriced at 50 and they were releasing a ton of oil. also, they talk out of both sides of their mouth.
why don't you do your own research? here; www.eia.doe.gov or for a short version here; http://www.elliottwave.com/freeupdates/archives/2008/05/08/Why-Oil-Prices-Change-â-Part-III.aspx http://www.elliottwave.com/freeupdates/archives/2008/05/06/Why-Oil-Prices-Really-Change.aspx