Fatuous Forecasts

Enough is enough. During the long run up we’ve seen in oil and gas prices, more than a few oil executives and investment firms have predicted a rise in crude prices. Some of them were even based on actual market fundamentals. In many cases, either the executives selling the oil or investors who would benefit from more lucrative futures contracts have done the prognosticating. I’m sorry, but these forecasts are sounding fishier than Prince William Sound after the Exxon Valdez spilled its contents into the local ecology in 1989.

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