Goldman, once warning of $200 oil, sees $45 in 2009...WORTHLESS ANALYSTS!!!!!!!!

You guys are really clueless when it comes to sell-side research.

The oil analyst doesn't speak for "Goldman." His opinion is his opinion. I've known a lot of salespeople who will quietly pan their own house analyst. Salespeople ought to have that freedom. The client relationship is oftentimes with the salesperson. I actually read the original reports from the Goldman analyst calling for a 'super spike above $100' ... he wrote that when oil was still below $50 and laid out a powerful argument. Certainly anyone who paid attention profited from that.

And we should all know that 'calling the top' is precarious work.

The Goldman oil analyst has done some great work over the last few years, and he deserves some credit. Not that he, or anyone else is holding their breathe to get some from ET ...
 
Hey, let's all play Goldie Analyst. [dons impressive suit and tie]

<ahem> Soaring inventories, new discoveries and demand that has dropped off a cliff will lead to a surplus of oil like the world has never seen. Storage costs will climb as environmentalists warn of the looming catastrophe of a huge number of giant oil spills. Regulation will increase. As a result of this the cost of keeping oil will skyrocket, putting even more pressure on lower prices. Our models forecast such a huge glut of oil that producers will actually pay people to take it off their hands. Our target is - (minus) $2.50 a barrel.
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:D
 
Quote from S2007S:

......
U.S. oil prices CLc1 fell more than $2 a barrel to below $46 on Friday after a bailout plan for struggling U.S. auto makers stalled this week's tenous recovery from a four-year low. [/B]
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The big 3 make some of the most gas guzzling monsters so if they fail then more efficent cars will get on the road. ( Europeans have had smaller cars for decades... ) When the big monstrosities get off the road then it is only logical that demand will drop.

Its enlightning to see how not that long ago people were driving well below the speed limit (at least here in our country) and now that petrol prices have dropped they have gone back to speeding just above the speedlimit again, especially the big gas guzzling monstrosities driven by young mums. There is no self control by the masses en large. Petrol is just too cheap and it has to go up.

Maria
 
I wonder if those big firms issue two reports, one for the public and another for their private clients. In this way, they can "create" the "other side" when their private clients need to accumulate or distribute.
 
Quote from bali_survivor:

Petrol is just too cheap and it has to go up.

Maria
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The drop is temporary and I attribute it more to psychological/behavioral factors than anything else. By the time we enter the next economic up cycle (who knows when?) price will skyrocket again.
 
i'm not going to apologise for Goldman's call, however i can tell you they've
been reading my crude oil threads for years, unfortunately i did make a very
bad call saying crude would go to $180 — they just wanted to top me ; )

crude to $55 . . . how about $34 ? http://www.elitetrader.com/vb/showthread.php?s=&threadid=141755&highlight=$34
Crude Oil to $180: http://www.elitetrader.com/vb/showthread.php?s=&threadid=128919
Crude Oil to $144: http://www.elitetrader.com/vb/showthread.php?s=&threadid=107289
Crude to $89: http://www.elitetrader.com/vb/showthread.php?s=&threadid=51120
 
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