Kinda seems like Boone Pickens' famous, "You'll never see natural gas with a $2 handle again in my lifetime."
Well, Boone's still kicking and, what...we've seen a $2 handle on gas a couple of times now?
Alwaleed may be right, but I've been around markets long enough to know that when making predictions, never say never.
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I can see no more $100 oil in the next few years, but if global growth kicks in and the austerity meme takes a breather in Europe and the US, no way will it stay below $100. I would agree, however, that protracted levels above $100 would be difficult in a deflationary environment or even in a growth environment. $100 oil seems to stop expansion in its tracks.
Is this Alaweed the guy taking over for the dead guy?
The strong dollar is another bulwark against even $60 oil. Oil priced in euros is a bitch no doubt.
"Oil priced in euros is a bitch no doubt."
Yeah, that's an other one I forgot to mention in the other thread! Strong dollar + cheap oil is good for USA citizens, but the € falling against the dollar cuts a lot of the stimulative effects regarding raw materials and energy imports the eurozone does (though the ruble is a complete disaster too so it may be a net gain for the eurozone).
Where is the link to this silly prediction?
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