What does OPEC and Bear Sterns have in common?

[peilthetraveler]

BSC says "Our company is worth 80 dollars and there is no problem with liquidity"

A few days later bear sterns agrees to sell out for 2 bucks per share.

OPEC says "There is no shortage of oil and we have no idea why its trading at 124$ per barrel"

Wouldnt that be Scary if OPEC came out next week and says "We only have enough oil left in the world for about a year and then we are empty"

Yeah, i know we are not supposed to run out of oil until 2027 with current reserves, but GS says that oil is going to hit 200 bucks per barrel in a year or two.

Thats the problem...you never know if these guys are lying trying to prevent a panic or not.

 

[robbie380]

Quote from peilthetraveler:

BSC says "Our company is worth 80 dollars and there is no problem with liquidity"

A few days later bear sterns agrees to sell out for 2 bucks per share.

OPEC says "There is no shortage of oil and we have no idea why its trading at 124$ per barrel"

Wouldnt that be Scary if OPEC came out next week and says "We only have enough oil left in the world for about a year and then we are empty"

Yeah, i know we are not supposed to run out of oil until 2027 with current reserves, but GS says that oil is going to hit 200 bucks per barrel in a year or two.

Thats the problem...you never know if these guys are lying trying to prevent a panic or not.

not sure if you have followed opec at all before but these guys have been saying oil was overpriced at 50 and they were releasing a ton of oil. also, they talk out of both sides of their mouth.

 

[da-net]

Quote from peilthetraveler:

Yeah, i know we are not supposed to run out of oil until 2027 with current reserves, but GS says that oil is going to hit 200 bucks per barrel in a year or two.

Thats the problem...you never know if these guys are lying trying to prevent a panic or not.

why don't you do your own research?

here;

www.eia.doe.gov

or for a short version here;

http://www.elliottwave.com/freeupdates/archives/2008/05/08/Why-Oil-Prices-Change-–-Part-III.aspx

http://www.elliottwave.com/freeupdates/archives/2008/05/06/Why-Oil-Prices-Really-Change.aspx