Found an posting on a Reuters global investment blog, which cited some research done by Birinyi Associates. Based on Birinyi's analysis you should believe what Pickens says. Below is a chart of the price of oil with data points of predictions by Pickens.
Here is the graph with a couple of data points:
1 Was surprised oil went down this much (19 month low) still thinks oil will average $70 in 2007.
8 Oil may surpass $100 on a geopolitical event and will rise to $80 within 6 months.
13 $100 oil will be routine.
17 Thinks oil wil rise to $150 by end of 2008.
Source:
'Pickens Sees Oil at $150...Here's a Look at His Track Record', by Eliis Mnynadu, Reuters News
No comments:
Post a Comment