Prepare Yourselves for The Next Oil Price Shock
Looking at the oil supply & demand fundamentals, next year looks like an accident waiting to happen. If economic growth in emerging economies remains on track, and that is a big If, the next oil price shock will occur in 2012.
Dave Rosenberg recently put the odds of America going into recession in 2012 at 99%, but I doubt he had oil in mind when he said that. On the current path, oil is set to hit $150/barrel next summer. Take an economy in recession, add in oil prices well in excess of $100/barrel, and what do you get?
Let's briefly review
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Dave Rosenberg recently put the odds of America going into recession in 2012 at 99%, but I doubt he had oil in mind when he said that. On the current path, oil is set to hit $150/barrel next summer. Take an economy in recession, add in oil prices well in excess of $100/barrel, and what do you get?
Let's briefly review
Read more...
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