<DrumBeat: April 9, 2008The Oil DrumThe Energy Scene in India>

69 comments on Oil Rises, Gasoline Climbs to a Record, on U.S. Supply Decline

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westexas on April 9, 2008 - 11:25am Permalink | Subthread | Comments top

BTW, Dan Yergin "warned" us of what was coming. Copy of a note I posted on TOD and sent out to joint venture partners, for the benefit of oil trader types:

June 28, 2007

To: Interested Parties

From: Jeffrey J. Brown

Subject: RED ALERT: DANIEL YERGIN ISSUES STRONG "BUY SIGNAL" FOR OIL

CNBC just quoted Daniel Yergin as saying that, without the "fear premium," oil prices next year should be down to $60.

Most of you probably recall Daniel Yergin's previous predictions for lower oil prices. Based on prior experience, once Yergin issues a prediction for lower prices, one should expect oil prices to be 100% or more higher than his predicted price, within one to two years of his prediction--think $120 or more within one to two years.

Regarding his $38 prediction, do a Google search for Daniel Yergin and click on "Daniel Yergin Day."

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Sunking on April 10, 2008 - 1:17am Permalink | Subthread | Parent | Comments top

Yergin lives on another planet and has done so for quite some time.

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