Trying to forecast any future shifts in oil prices, or their eventual duration, is useless, as I wrote in December. Since that time, oil prices fell even more, then rose by more than a fifth in a matter of days, and then began to fall again — providing those commentators who will never learn with opportunities to argue that we will see $30/barrel oil before any price recovery, or that $200/barrel oil will be here sooner than people think. I will never add to these useless predictions, and while I recommend enjoying low oil prices (and by that I mean …read more
Source: American Enterprise Institute for Public Policy Research