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Look out, it's the GS/JPM good cop/bad cop tag team...
more like keystone flops...
They are off by $20 a barrel. $130 is wishful thinking. $150 by the end of June. $180 by September.
The "demand destruction" happened the last time this all crashed and it stayed there. People that didn't need a car gave it up. Those that did their cash for clunkers went smaller.
My guess is JPMs comm desk is simply caught short (hmm.. Deja Vu?) the stuff. After GSs neat spin on oil (only reason it retreated from that $113 high last week) JPM decided to pull out their own little ace of spades. Unfortunately for JPM, their research desk isn't nearly as respected as GSs and thus this report was a dud. Nothing but a big red close on the CL today.
Longer term, oil is inevitably bound to break those '08 highs, but IMO not this soon.
Ask yourself, is the economy running at the pace it was in '07-'08? Anyone know who isn't brainwashed by the MSM surely knows the answer to that question. Another argument mght be, there's simply less of it than there as 3 years ago? Hardly, we consume more thanks to the BRICs, well we started drilling more too. We don't even "need" Libya to be over to see <$100/barrel, we just need the markets to continue at their pace of slowing, as well as with a slowing in the recovery, and we'll surely find some rest under $100.
Longer term fully agree it'll be >$150, but i'd hate to have to wager on this year.
There same team, they work together to sheer sheep..I wouldnt believe anything any of the mf's say..
counter to GS copper call :)
but..but...China's demand is supposed to exceed the US....wasn't that one reason cited for the run up in crude along with equities?
Someone has to foot the bill for King Abdullah's wealth transfer scheme. The wealth certainly isn't going to be transferred from the Big 5 in the Kingdom to the peasantry. The plan since Abdullah's return from Morocco has been to present the American peasants with the bill for the Saudi peasants' new subsidies. This is the price tag for Bowing-Boy-Barry dissing Abdullah's buddy Hosni.
Are you SURE they aren't just planning do the regular and screw their clients and anyone dumb enough to listen to them.
I think oil is going up as well, but Goldman seems to produce nothing but noise with these calls, with no usable information transmitted (playing the "I know he knows I know, but does he know I know he knows I know?" game).
Staycation summer Bitchez!
5$ gas and economy go boom.....
We'll see in a few months if you're right...
I would have said 6$, it would have given you a extra few months...
And where do they SEE SILVER by june?
I SAY AT 45$ BY FRIDAY!
GPL now on sale in the lobby......
Silver seems to be crashing. HMMMMMM
By crashing it need to be -10%, and when it's green it's not exactly crashing
Have some more mushrooms ;)
It always does that @ 9:00 AM every fucking Monday morning.
I always buy the Monday morning manipulation dip.
Ha ha ha it seems that demand really dropped and bankster midterm oil price (pumped) targets are in truble!!
Watch out: new bad "news" from Nigera, Turkey, Iraq etc!!
The only way demand drops is with economic destruction.
Item: Saudi Arabia air conditioners are about to get turned on. They don't have coal and very little natgas. They run their power plants on oil. It's about 500K bpd of demand about to arrivefrom there and surrounding countries oil powered electricity generators.
Item: Japan repaired their roads first to get people moving again. Now the 0.5 miles per gallon bulldozers will start doing their thing. And at least some power replacement for the nuclear power generators will be oil fired. Expect a near term consumption increase PROVIDED the Japanese infrastructure allows that ramp up. If it doesn't, then we won't be seeing parts for things in the US for a long time to come.
Item: There is no evidence at all of China slowing their consumption, and neither is there any such in India. Chindia is the consumption growth story. Not the US. 10% of those countries own cars and the other 90% want one and can now pay for one.
3Q11 is when the fun starts. $5 a gallon gas and as an added bonus we'll get to see what the world does, or doesnt, do when the Quarterly Earnings report comes out concerning Japan and all of the industries affected by its lack of production.
Believe a move to $130/June will outperform gold
Of course the SEC is not going to examine JPM´s position before the unbiased report.....and do not forget about checking the positions before the SP debt downgrade story...
It´s all legal of course....
And the SEC will get their crossover jobs when the time comes....
If supplies are not increased decisively for June liftings be prepared for price spikes over $130/bbl."
Here's a graph of your future. Stop video at :20 seconds and look at the graph, then the statement above's gravity becomes clear.
AIN'T NO SUPPLIES gonna be increased.
"energy prices will skyrocket under my plan"
Barry Hussein Obama, Nov 2008
Prediction - America is going to fall in love with Vespas. Of course the Italians are going to have to supersize those little seats or there's going to be an epidemic of wedgies.
of course we're going to $130. why not ! soon it won't be worth it to drive to a $8/hour job. & many people have these shit little $8/hr. jobs because that's all that is left here since Wall St. & Washington policy outsourced over 8,000,000 jobs in our race to the bottom.
the latest speech from CHRIS HEDGES protesting in front of BANK of AMERICA branch in N.Y.CITY on April 15 : http://www.youtube.com/watch?v=2GYlSsLafR0&feature=player_embedded
have a great day & be good to others.
These are the same guys who were calling for a 5.50% 10-year yield by EOY 2010.
A slight miss.
An OPEC country was lying about reserves? Say it isn't so...
What utter and complete bullshit-- it's basically another way of saying QE and fiscal policies will now be even more designed to take out the dollar even faster.
Oil going to 130 ....all money from stocks moving to Oil n other commodities
Barack Hussein Obama sounds more like a financial terrorist to me. Barry gives him too much cover...
About 1960 the elite and the government decided it would be great to make the 3rd world nations just like the US.
The said that all of those nations would then buy all of our stuff and everybody would be richer and just a wonderful New World Order. Well now those 3rd World nations have all the manufacturing jobs we used to have, and they often send their emigres here to take what jobs remain.
China, India, rest of 3rd world are now going to OUTBID Americans for OIL, FOOD, etc.
Now the Banksters, well they got several TRILLION Taxpayer $$ and they've done well, speculating in Tel Aviv real estate for instance, yet don't you think the American sheeple, who let it all be taken from them, will just lie down and DIE? I think they will, if they gave up their nation, their HABITAT then they surely will not resist now.
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