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  • PRINCE ALWALEED: Oil Is Never Going Back To $100

    01/12/2015 10:26:11 AM PST · by blam · 45 replies
    BI ^ | 1-12-2015 | Portia Crowe
    Portia Crowe January 12, 2015Prince Alwaleed bin Talal, the eccentric Saudi billionaire once labeled the "Arabian Warren Buffett," predicted that oil would never again reach $100 a barrel. "The price of oil above $100 is artificial," he said. "It's not correct." That's in an interview with Maria Bartiromo for USA Today, in which the business magnate blamed oversupply and weak demand for the recent drop in oil prices. He also predicted hard times ahead for America's shale-oil and gas industries. "No one knows for sure what price is the breaking point for shale," he said. "Wells have a higher production...