Bakken Oil

Today's Energy and Capital

Arju Murti Was Right... And So Were We.

May 10th, 2008 - By Ian Cooper

When supply finally eclipses demand, which will happen when ordinary consumers can no longer afford energy costs, then we'll see a reversal, says Energy and Capital editor Ian Cooper...

Murti's the Goldman Sachs guy that called for the unprecedented move above $100 just three years ago.

And how did Wall Street react?

They laughed at him, thinking it was nothing more than a Goldman publicity stunt. He first predicted a rise above $105 back in March 2005, as oil traded around $60.

 


 

Yep, for the better part of three years, his call was ridiculed. Even as oil made a pass at $70, $80, $90, $100, $105... even $110, all we heard was how the price of crude would soon collapse, as they laughed at Murti.

But Murti wasn't laughing. It was no joke. And he wasn't alone in his thinking. We called it, too, right here in Energy and Capital...

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