Gartman: Long Term, Crude Oil is Doomed

But, short term, he might take a brief stab at it, if not for the sake of ‘rank speculation.’

Once again, Gartman delves into conspiracy theories regarding the end of crude and how some mystical technology is going to render crude worthless. He even cites the new energy kingpin in The House of Saud as saying crude might be worth zero in the future. Really? I find it hard to believe he’d say that. That’s truly an outlandish statement, well deserving of at least 150 lashes upon the gibbet. What is he an energy minister for Saudi Arabia or propaganda minister for China’s strategic crude reserves?

Maybe both.

Nevertheless, Gartman weighs in on the pin action in crude.

Note: See how he’s always holding his hands up like that to form a pyramid? Illuminati confirmed.