Steve Forbes Sees $35 Oil

You’re simply not going to believe this. Publishing magnate Steve Forbes says that he expects oil prices to dip as low as $35 within a year.

Has the publishing guru gone mad? Has Mr. Forbes taken some horrible hallucinogenic drug, akin to adrenochrome from Fear and Loathing in Las Vegas?
Forbes, editor-in-chief of the influential Forbes business magazine, blamed the current price spike on speculation and said that inflation and increased demand from China and India only accounted for a small part of the price hike from $25-$30 a barrel three years ago.

Forbes predicted that an oil price burst was coming with an impact that could make the dotcom bust of 2000 “look like a picnic”.

Wealth Daily