1. Welcome to Baptist Board, a friendly forum to discuss the Baptist Faith in a friendly surrounding.

    Your voice is missing! You will need to register to get access to all the features that our community has to offer.

    We hope to see you as a part of our community soon and God Bless!

Lehman Bros. Report: Oil Bust in the Cards

Discussion in '2008 Archive' started by Revmitchell, May 15, 2008.

Top Posters
  1. Revmitchell

    Revmitchell Well-Known Member
    Site Supporter

    Joined:
    Feb 18, 2006
    Messages:
    52,013
    Likes Received:
    3,649
    Faith:
    Baptist
    Friday, April 25, 2008 5:56 p.m. EDT
    Is $120 oil even real? Not if you ask the Saudis, or even Lehman Bros.

    The investment bank’s oil expert said this week that the oil boom is due to bust. Economic growth across the globe will slow just as new refineries kick in, raising supply.

    Recession or not, a U.S. slowdown will slacken demand sharply, right as new oil hits the market. "Supply is outpacing demand growth,” said Michael Waldron, Lehman’s oil strategist.

    "Inventories have been building since the beginning of the year. We have pretty significant projects starting soon in Saudi Arabia, and large off-shore fields in Nigeria,” he said.

    More Here

    The article is about a month old
     
    #1 Revmitchell, May 15, 2008
  2. KenH

    KenH Well-Known Member

    Joined:
    May 18, 2002
    Messages:
    42,006
    Likes Received:
    1,492
    Faith:
    Baptist
    #2 KenH, May 15, 2008
(You must log in or sign up to post here.)
Loading...