Tuesday, August 30, 2005

Oil prices will plunge

With oil prices still rising and setting new records, lot's of people are turning (or turned) bearish on the whole market.
Steve Forbes now came with a remarkable opinion; Oil prices will plunge to $30 - $35 within a year

Forbes, editor in chief of the magazine that bears his family name, made his prediction Monday during a keynote speech to corporate executives at Scottsdale's James Hotel.
Forbes said recent oil prices of more than $50 per barrel are the result of speculators.
"About $15 to $20 of the oil price is speculation," he said.


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