Chris Cook gave an interview today on Max Keiser show. Check out the 2nd half of the show for interview. In it Chris predicts a collapse of oil prices in first 6 months of 2012 just like a similar collapse in 2008 when it went from $147 to $35 dollars per barrel. He made an interesting point that investors and hedge funds were buying oil contracts because they didn’t want to hold dollars. A few of the points covered are:

Selling oil today and lease back in a months time.

Oil market entirely corrupted.

People are buying long-term to avoid a loss because they didn’t want to hold money in dollars.

For article written by Chris Cook and full explanation of his view checkout theoildrum.com

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