Jan. 19 (Bloomberg) -- Goldman Sachs Group Inc. commodity analyst Jeffrey Currie said he expects a “swift and violent rebound” in energy prices, including oil, in the second half of the year.Here's Jeffrey on November 26, 2007.
Despite his recent caution, Currie remains a long-term bull on oil and other commodities. He forecasts that U.S. light sweet crude will be $85 a barrel at yearend and $95 in 12 months.Sorry. That's not what happened.
I wonder how many people at Goldman Sachs have positioned their portfolios for rising oil prices. Like Boone Pickens saying that oil would hit $200 and stay there forever, while at the same time asking Congress to help pay for his wind farm.
Update: Currie may be right. It struck me when I was driving home tonight that Saudi Aramco has been doing a ton of recruiting ads on the radio these past few weeks. What do they know that we don't?