New York, NY (PRWEB) June 14, 2012
According to George Leong, contributor to Profit Confidential, oil prices are in a bear market driven by renewed nervousness toward the condition of major economies in the eurozone, the U.S., and China. Leong suggests the decline in oil prices foreshadows potential growth issues down the road.
In the article “Oil at Manageable Levels, but Risk Remains,” Leong argues that the oil cartel, the Organization of Petroleum Exporting Countries (OPEC), will support the mid-$80.00 range per barrel of oil.
“While oil prices are estimated to trade below $100.00 a barrel for the next eight years,” says Leong, “there will be volatility that could drive prices to well above $100.00.”
Leong believes that hostilities in the oil-producing regions could easily trigger a spike in oil and gasoline prices.
“Recall what happened in Libya, as the country was vulnerable to civil war prior to the killing of Colonel Gaddafi,” says Leong.
With the country having the 12th largest oil reserve in the world, Leong believes any major disruption to the oil flow from Libya could have sent world oil prices surging.
“The ability of OPEC oil prices to impact our thirst for oil continues to be an issue that needs to be resolved whether it’s via alternative energies or other sources of oil,” says Leong.
Profit Confidential, which has been published for over a decade now, has been widely recognized as predicting five major economic events over the past 10 years. In 2002, Profit Confidential started advising its readers to buy gold-related investments when gold traded under $300 an ounce. In 2006, it “begged” its readers to get out of the housing market... before it plunged.
Profit Confidential was among the first (back in late 2006) to predict that the U.S. economy would be in a recession by late 2007. The daily e-letter correctly predicted the crash in the stock market of 2008 and early 2009. And Profit Confidential turned bullish on stocks in March of 2009 and rode the bear market rally from a Dow Jones Industrial Average of 6,440 on March 9, 2009, to 12,876 on May 2, 2011, a gain of 99%.
To see the full article and to learn more about Profit Confidential, visit http://www.profitconfidential.com.
Profit Confidential is Lombardi Publishing Corporation’s free daily investment e-letter. Written by financial gurus with over 100 years of combined investing experience, Profit Confidential analyzes and comments on the actions of the stock market, precious metals, interest rates, real estate, and the economy. Lombardi Publishing Corporation, founded in 1986, now with over one million customers in 141 countries, is one of the largest consumer information publishers in the world. For more on Lombardi, and to get the popular Profit Confidential e-letter sent to you daily, visit http://www.profitconfidential.com.
Michael Lombardi, MBA, the lead Profit Confidential editorial contributor, has just released his most recent update of Critical Warning Number Six, a breakthrough video with Lombardi’s current predictions for the U.S. economy, stock market, U.S. dollar, euro, interest rates and inflation. To see the video, visit http://www.profitconfidential.com/critical-warning-number-six.