Friday, June 27, 2008

Desperation and Wishful Thinking in the Media: Report predicts eventual drop in oil prices

Bloomberg News / June 26, 2008

NEW YORK - Oil prices will fall to $70 a barrel by 2015 as new production begins in countries such as Azerbaijan, Canada, Brazil, and Kazakhstan, the US Energy Department said.

NVDL: Just because we'd like to believe something, and we have some facts to support it, doesn't mean it's reality. This was published on Bloomberg yesterday. There is another word that starts with a B which I think is an appropriate term to refer to Bloomberg in the future. Thanks for the insight guys, but I think I'll get my news from in the future. I am still waiting to see when a dollar sign and a number make headlines around the world. I thought we'd see it at $100. I somehow doubt we'll see it at $150 seeing how the Media are jumping around with stories on speculation and what not. I have a feeling $200 will do it. Of course, by then a few newspapers won't be around to tell us what we already know.

No comments: