Iran Sanctions To Trigger $120/bbl Oil! Or Not.

Predictions – how many big names have already had their faces full of egg after a prediction that not only missed but really bombed? I remember when I was working at a gas trading company, we had an oil price wager running and the one who got closest, got the pot. I took it once but the coffee lady had it 2 or 3 times. She bested our best traders and analysts, and she beat the industry grandees. It’s not because she was so good but because she was luckier than the others. This means all this prediction woo woo is just that, no more than an old lady throwing some chicken bones. My recommendation: get good at what you do and be ready to deal with everything that may happen – it matters far less what the future holds then. You will be ready.

Last month, Dr. Phillip Verleger, a professional prediction maker, predicted a crash in U.S. crude oil production in 2020.

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