Pop goes the Oil Bubble! watch!
cnbc.com — William Smith, president, CEO & senior portfolio manager at SAM Advisors is interviewed on CNBC about the $16+ decline of oil over 3 days. Says Oil could be back down to $40/bbl within a year or so.
Papajohn56- 16 diggs
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- tasine, on 07/20/2008, -0/+0Looks like the oil price question is going to be like most other situations: up, then down, then up, then down. People panic every time they are outside their comfort zone, and paying $5.00/gallon of gas is outside most comfort zones. The secret is to not panic. You know the old saying: What goes up, comes down. The only problem I see these days with prices is that they do actually come down - but seldom to the price they had been before going up in the first place.
I guess I'm not surprised the price is coming down - the heat was getting a little hotter, and who knows what else went on that we don't know about.
At any rate this is good news for us and I hope the decline in the cost reaches its way to the pumps. - bucfish, on 07/20/2008, -0/+1If you believe him you are doing so at your own risk. While if the negiotations with Iran go good than the price will come down some. But unless we address the value of the dollar it will stay very high. 40 dollar oil in a year this man has lost his mind. NO WAY we have 40 dollar oil in a year unless some grand invention comes about.
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