We don’t make predictions at Mullooly Asset Management. And we rarely hold anyone else’s predictions as credible. So keep that in mind with this post.
With oil recently trading over $140 a barrel, there is an article from the New York Times — that I think has been circulated all over the Internet — but everyone ought to read NOW, because of the topic.
Keep in mind, this article was originally published on October 14, 2001… just barely a month after September 11.
This was taken from statements from bin Laden, made originally 10 years ago…1998.
The last paragraph of the article reminds readers that in 1981, during the Iran Iraq war oil prices reached $40 a barrel. By 1986 oil had dropped to $12 a barrel. In fact, when the original quote was made (in 1998), oil was trading at $11/barrel.
Focus on the third paragraph — where Osama bin Laden, in 1998, tells the world the price where oil ought to trade at. Pretty amazing.
Don’t get me wrong. This dirtbag is a detestable person who must be captured and appropriately punished for his actions. But I am sharing this link to show the deep motivation behind his actions. And also to show the uncanny price action in oil prices.