Media Hyped $140 Oil; What About $40 Oil, as One Analyst Predicts

Jeff Poor
October 7th, 2008 5:06 PM
Earlier this year, the media trotted out story after story of high gas price hardship as oil climbed to a record-high $147 a barrel back in July. One analyst even predicted in May that oil would reach $300 a barrel. But, now that a financial mess has struck the markets, oil has fallen from $140 to right around $90 a barrel on Oct. 7. During months leading up to its peak, many were forecasting…