Steve Forbes contradicts himself

Steve Forbes told the Prime Minister and media on Tuesday that oil prices will come back down to around $35 a barrel within a year, and that high prices are a speculation 'bubble'. Overnight his investor newsletter has advised the opposite.

The subscriber only Forbes Professional Timing Service states:

"THE MOST IMPORTANT ADVICE I HAVE GIVEN IN 20 YEARS"

"expect to see crude move to $65.00 this summer and to $76.00 by early next year."

"..the so-called terror premium in crude prices - which will remain until we see at least three years of peace in the fertile crescent".

And,

"We are at the point where the rubber hits the road, and the only rationing mechanism for whomever gets the available supply will be higher prices."

"What is Mr Forbes up to? It appears he is telling the Australian public and decision makers not to taking the spike in oil prices seriously, whilst telling his investors that the spike is a great profit making opportunity," Senator Nettle said.

(2005-09-03 13:24:21 SGT) [Energy] Permalink

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