Oil prices are unlikely to drop any time soon, analysts said. Barclays Capital recently raised its long-term prediction, saying prices could reach $137 a barrel in 2015, up from a previous target of $93 a barrel.
To which I wrote:
Sorry, that wasn't me you heard snorting. $137 in 2015? That's 7 years from now! I might believe that if there was a slight decrease in US consumption coupled with peace in the Middle East. And a smaller increase in consumption in China and India. Like that's an option.
I'll be surprised if we aren't seeing $137 a barrel before the next president has had time to fumigate the Oval Office
I love it when I clearly have more sense than analysts at Barclays Capital. I only missed by 8 months instead of 7 years!
So who the hell are these "analysts" and what the hell are they "analyzing?"