10 warnings: Big Oil stocks crash 50% by 2020
SAN LUIS OBISPO, Calif. (MarketWatch) — Yes, we see 10 early warnings that Big Oil stocks are going to trigger an economic collapse by 2020, maybe 50% as gas prices go through your SUV’s sunroof.
A contrarian view? Yes, pump prices already shot up 11% this year. Plus Big Oil cherishes its new role as exporter: Bloomberg’s even predicting the U.S. will “surpass Russia and Saudi Arabia as the world’s top oil producer by 2015, and be close to energy self-sufficiency in the next two decades, amid booming output.”
So why worry? Why contrarian? Because a decade ago the Bush Pentagon predicted that by 2020 “an ancient pattern of desperate, all-out wars over food, water, and energy supplies would emerge” as global “warfare is defining human life.” But, that’s light years away in today’s twitte
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