Thursday, August 21, 2008

Thanks Goldman, we really needed that!


Just when you thought it was safe to buy gas again, the venerable Goldman Sachs goes out of their way to enhance their bottom line at the expense of the ordinary American. They seem to be long a lot of oil futures that became worthless recently so they went out of their way, in the waning days of summer, to reiterate their price target on crude oil at $149 a barrel. What has this country come to? Was it not satisfactory that increased inventories and decreased demand led oil down from its peak to about $112 a barrel? Is there anyone besides me that is feeling a little wronged by this? Shame on them. My sense is that the analyst phoned in this reminder from his summer home in The Hamptons. Americans should be outraged.

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