Well, many of predicted that sub-$70 oil would happen and I think it got under $50 for abit per WSJ I was reading. Then, what is interesting, is that there are those out there with positions expecting to see $120-140 by March 09. However, predictions are that it will reach $65 by then, which has got to be tough if you're short at the $120-140.
I saw this happen in real time in the early '80's...was at $30, was predicted to go to $50, then the bottom dropped out for all of '82 and it dropped to $15 for quite awhile. Doubt it will that low again. I saw bankrupties of well to do, and some suicides, when they spent themselves into debt expecting $50. Lots of rigs were on their side in TX about then.
Had $1.74 gas around the corner this weekend in GR, MI.
Glad to say that in MI Kellogg's is investing close to $40M in downtown Battle Creek, for new research facilities. Sure wish they'd bring their IT back from Elmhurst, IL. Plus BC is getting a new solar panel plant. Hope the credit crisis doesn't kill solar cell sales.
Good Gud a'mighty, feds says $7.4T is ok to spend...can you spell inflation? The velocity of money has to come back I say (you get money, you spend money).
Sandbar for now...have a great Thanksgiving you all.
Welcome to the Hatteras Owners Forum & Gallery. Sign Up or Login
Results 1 to 5 of 5
Thread: < $70 oil
Threaded View
-
< $70 oil
50 Years on the Great Lakes...