Lindsey Williams was Right. Oil -> 50 FRNsSubmitted by BlueEagle on Thu, 11/13/2008 - 16:02
Lindsey Williams has been right so far, and I expect light sweet crude to continue its decline to 50 FRNs / Barrel.
Today Crude Oil dipped to 54.67 and is now at 58.59. I have a buy rating at 50, because Mr. Williams said Rockefeller/Big Oil would then take it to 200 FRNs / Barrel. Timing is unknown.
One reason it went to 147 was in order to get legislation passed to drill. They did. There could be other reasons too. Know of any?
It is now going down to 50. Reasons I've heard are:
1. Keep the masses from rioting early.
2. Bankrupt Venezuela, Russia, OPEC countries such as Iran, etc. These countries cannot function at 50 FRNs / Barrel.
Can you think of others?
* If you haven't heard of Lindsey Williams or The Energy Non-Crisis you can Google him or view the video here: