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    Sensationalist journalism in oil price article

    I'm getting really tired of sensationalist headlines which are then unjustified in the articles that follow. Here's a great example:

    Will oil prices continue to stay high? - Oil & energy - MSNBC.com

    (The headline on MSN was "Experts: Oil may spike at $200 per barrel)

    Widely watched oil price prognosticator Goldman Sachs has said oil could average $110 a barrel by 2010, up from a previous forecast of $80, and that a spike as high as $200 a barrel is possible in case of a major supply disruption.

    "The fundamentals don't justify anywhere near these prices, even when you factor in geopolitical problems," said Michael Lynch, president of Strategic Energy & Economic Research Inc. in Cambridge, Mass.

    He expects prices to fall as low as $80 this year and perhaps as low as $50 in the next three or four years as more global supply comes on line.

    He expects the price of oil to settle at around $90 to $100 a barrel in the coming months.

    So, they take one small piece of information, out of context of course, and slap that ***** on the headline. Is that the editor doing that? The article, other than being misrepresented by it's headline, seems pretty fair.

    Edit- seems like the headline was from someone sensationalizes it at MSN for their link, not from MSNBC.


    Last edited by Cyclonepride; 04-26-2008 at 07:11 AM.

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    Re: Sensationalist journalism in oil price article

    Even the folks on NPRs money program are referring to the current oil prices as a "bubble." So there you go!


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    Re: Sensationalist journalism in oil price article

    I love how a tanker is attacked and the price of oil goes up by about $1/barrel. There are two huge finds of oil (Montana and Brazil as the third largest in the world) and the price does nothing. I do not anticipate this being a bubble. Sovereign wealth funds from the Middle East are investing heavily into oil thur driving up the price of their own exported good. The US will stop feeling the pinch once someone declares that within 10 years there will be no foreign oil imported to or used by the US.



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    Re: Sensationalist journalism in oil price article

    Quote Originally Posted by twojman View Post
    I love how a tanker is attacked and the price of oil goes up by about $1/barrel. There are two huge finds of oil (Montana and Brazil as the third largest in the world) and the price does nothing. I do not anticipate this being a bubble. Sovereign wealth funds from the Middle East are investing heavily into oil thur driving up the price of their own exported good. The US will stop feeling the pinch once someone declares that within 10 years there will be no foreign oil imported to or used by the US.
    Reasons for current pricing
    1-devaluation of the american $
    2-hedge against inflation
    3-global demand
    4-global instability in the oil markets(i.e. tanker attack, etc)

    However; dismissing this as a bubble seems a bit of an understatement. We will probably not see this "bubble" burst then see a major retracing of our current prices as is normally seen in a "bubble".

    jmb


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    Re: Sensationalist journalism in oil price article

    If somebody can assure me what the price of oil will be in the future, please pass that information on to me. I'm confident that I could get rich from knowing what the future price of crude will be.


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