Monday, August 18, 2008
Oil Heading Down to $80 a Barrel: Merrill Executive
Finally an executive that has the balls to tell the truth.
We need more people like you on CNBC Tom! Good job Mr. Petrie
This was just released on CNBC this morning.
Decreased global demand will push the price of oil to about $80 a barrel in the coming months, Merrill Lynch Vice Chairman Tom Petrie said on CNBC.
"I think it's pretty clear demand elasticities have been triggered in a way that will take prices lower," Petrie said. "I do think $80 to $90 is probably where the floor is."
To read the full article click here:
http://www.cnbc.com/id/26264945
Labels: tom petrie
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