It was less than a year ago when Goldman Sachs predicted that the price of oil would reach $200 a barrel due to its “super-spike” oil theory. If we were assigning letter grades to predictions, I suppose we could give Goldman a C- since oil got to about $144 ($144/$200). Luckily using terms like “super-spike” and “peak oil” aren’t likely to incite panic in the average person’s mind. Not to be outdone by its competitor, Merrill Lynch is now predicting that the price of oil will drop to $25 a barrel, a level last seen in 2002.
Random thought:
For my next trick, I will predict that the Raiders will win the Super Bowl this year. I realize they’re currently 3 - 10, but the tarot card reader really had a strong feeling about this one.
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