I think this guy is still too high.
Michael Lynch thinks the real value should be About $2.00 per gallon or less.
"The fundamentals don't justify anywhere near these prices, even when you factor in geopolitical problems," said Michael Lynch, president of Strategic Energy & Economic Research Inc. in Cambridge, Mass.
He expects prices to fall as low as $80 this year and perhaps as low as $50 in the next three or four years as more global supply comes on line.
I love the smell of a good bubble popping in the afternoon. All this pain is temporary. Don't believe the doomsayers.
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