“The commodity correction is closer to its end than its beginning, and prices are set to start rising again, according to JPMorgan’s Colin Fenton.
Fenton sees Brent Crude heading to $130/barrel by Q3 2011. He does, however, outline 5 risks to this outlook. The first are the typical, including rising prices triggering a U.S. rate hike, a Californian financial crisis, a U.S. debt ceiling crisis, and the government’s pro-natural gas turn.
There’s one, however, that sticks out for us.
Risk #5: The pace of innovation and deflation in tech. Genomic sequencing costs have dropped by 99.96% since July 2007…”
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very interesting. oxymoronic to say the least,since idiots, i mean congress grilling oil execs. will someone please remind congress that oil companies dont set the price of oil and gas. dog and pony show……
The point of the grilling (aside from the political show, which is the main point), was not to tell the oil and gas execs to try to bring the price of oil and gas down.
The point was to ask why, when the market-set prices are showering the oil and gas industry with profits, the government should be giving them tax breaks.
It is just setting up a theme to be used for campaigning and other political purposes.
they do not set it, but have ways of influencing it…..