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.
posted by nikao @ 1:49 PM
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