<DrumBeat: October 4, 2006The Oil DrumA slight feeling of disquiet>

260 comments on The Specter of Recession

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westexas on October 4, 2006 - 10:24am Permalink | Subthread | Parent | Comments top
BTW, oil prices are trading in a range that is 500% to 700% higher than the 1999 low, and 50% to 100% higher than Daniel Yergin's predicted long term index price of $38 per barrel.

Yergin's prediction was that rising production would force oil prices to come down to equalize supply and demand.  The opposite has happened.  Flat to falling production has forced oil prices up to equalize suppply and demand.  Yet, the MSM still trots old Dan out on a regular basis.

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dinopello on October 4, 2006 - 10:37am Permalink | Subthread | Parent | Comments top
This link to a CERA market analysis was posted over at peakoil.com.  It discusses 3 possible economic scenarios and the effect on prices.

http://www.mylinuxisp.com/~blawrence/CERA-Oct-06.pdf

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