Byron King comments on energy.
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Quite a few guys forecast it actually. Prechter, Edelson, McHugh amongst others. It’s just that nobody really believed it would happen now and even those that did believe could not time the event so the forecast was dismissed.
Al and Cory – I like that you had someone come in to discuss the energy markets. It is typically covered on the daily editorials, but it is nice to highlight a sector like that once in a while. Interesting food for thought from Byron King.
Very interesting interview. Why did oil plummet all the way down to 45 a barrel during the past 5 months.
Did the world wake up during the past few months and realize we now have this massive over supply amnd demand has suddenly decreased?
If you price gold per mg to gasoline gallons we are now in all time record lows. I mean lower than we were during the 1920’s.
Has anyone thought about the possibilities of Oil not going up because the military industrial complex can make energy out of SALT WATER………………JUST A THOUGHT.
Who drives the most………..MIDDLE INCOME PEOPLE, which are now going the way of the buggy and whip. No income, no job, no need for oil…….Just a thought.
The bulk of the Chinese and Indians can not afford a car, and do not need gas., but, if the price stays down, maybe they can afford a used American car. …Just a thought.
Thanks for having Byron on and giving this a little more spotlight Al. It was appreciated.
AUDIO…
It is not true that no significant forecaster predicted oil below the low 70s prior to the collapse. Jeff Rubin predicted that oil would fall to the 40-60 dollar range last year well before the crash in an interview on the Financial Sense Newshour. In a more recent interview Mr. Rubin and Jim Puplava discussed this earlier forecast and they also discuss how he was able to forecast that oil would drop down into its current range.l