Skip to comments.Goldman (Sachs)sees oil price 'super spike' to $105 a barrel
Posted on 03/31/2005 1:56:57 PM PST by nickcarraway
click here to read article
So what happens when the economy dips into a depression thanks to $4.84/gallon gas prices?
GS are dem investment bankers. They want the economy to do as well over the next four years as George Soros.
Well thank goodness we had that' blood war for oil' /s
I believe this is called, "talking your book."
pump and dump
"GS are dem investment bankers. They want the economy to do as well over the next four years as George Soros."
Bingo!!! That is what I thought when I heard this on CNBC this AM. Goldman Sachs contibutes alot of money to the Rats.
The thing I can't believe is that the whole fricking stock and commodities market will believe one brokerage's house opinion with really no basis to back it up.
Now then, perhaps we can get RID of the ridiculous restraints on the creators of energy, and the confiscatory taxes on the consumer leveled at the federal and state levels. Those are additional costs NOT determined by the market, but ADDED by an entity that does nothing to create the wealth caused by the use of petroleum.
The Dems blame the Pubs for being in the pocket of Big Oil and the Pubs blame the Dems for not drilling in ANWR. So, nothing different except we all get stuck paying at the pump. Here in So Cal it's worse that anywhere else.
GS does have a good reputation, and there are tangible reasons to point to (Chinese demand booming), but that still doesn't mean that they're not motivated by political issues (helping Hill get elected in 08). These analysts are mostly guessing anyway. Did you see the earlier article today from the Telegraph about chimps doing as well picking stocks as British traders?
Hehe...my girlfriend (a leftie) is convinced we went to Iraq for oil.
Last night I asked her "where the hell's all that oil Bush got for us?? I'm sick of these gas prices!"
She couldn't come up with an answer.
I.e., plan to walk on your next vacation. If you can share a ride to work, it'll cost you the same as before.
"pump and dump"
you got that right - they are already advertising consumer contracts to lock in natural gas prices for three years.
They know that as soon as this heating season is over, it will be the last time they see these prices again for quite a few years.
It willbe nice to get back to life without Middle East hype 24/7
This is called Market Manipulation and the above demonstates it. Somebody just made some bucks from this statement.
Not sure, but I think it was World Com.
John Corzine also from GS.......he was involved in the Long Term Capital scandal that nearly brought down the US stock market.
GS prediction is best reason oil will be under $30 by year end.
For what it is worth, Goldman takes significant proprietary positions in commodities trading and in the energy business.
When that happens I'll be able to buy a nice house for real cheap.
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