By Jon S. Strebler
According to the old truism, those are the only two things about which we can be certain. Surely an over-simplification, I nevertheless have come to believe there’s more truth in that statement than I used to think. Ask yourself: How many things did you think could never, ever happen, but did? And how many things did you think were slam-dunk done deals, which never came to pass? A bunch, I bet.
Crude oil hit new six-year lows last week, below $42/bbl. It wasn’t much more than six years ago when we were reading everywhere about the end of cheap oil, how the world had turned the corner on new supplies coming to market and how nothing could possibly change the inexorability of higher oil prices – forever. Except that it didn’t turn out that way at all! I think this underscores an incredibly important lesson for us ... Log in or subscribe to continue reading.