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Why the oil crash caught so many by surprise (but shouldn’t have)

(AP Photo/Eric Gay)
In February 2014, I rang up Bob Hoye, a financial forecaster in Vancouver well known for his bearish outlook, to talk about where oil prices might be headed. It was an engaging and enlightening interview, and it led to this column. Here’s an excerpt:
So what does Hoye see coming down the pipe for oil, that sludgy lifeblood of the Canadian economy? “Somewhere in the next couple of months, the price advance in crude will probably have maxed out for this business cycle,” he says. “It’s easy to say that crude oil could fall to 25 per cent of …read more

Source: Macleans

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