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Fox "Business News" in March: Oil To Drop to $80.00!

Reported by Melanie - May 4, 2008 -

On March 7, 2008, Kevin Kerr of Kerr Trading International (which specializes in commodities trading) was a guest on Fox's "premiere business news" show, Your World w/Neil Cavuto. Crude oil closed at $105.00 a barrel that day yet Kerr predicted - get this - it was, "set to drop $80.00 by May."

Oops. It's May. Oil futures "settled at" $116.32 on Friday.


Comment: What? Heard of the "emerging middle class" in China and India? Billions of people want to be like you and me and they want stuff, like cars. They aren't going away. As a matter of fact, their numbers are growing. What was Kerr thinking?! Is kissing up to Fox and its don't-worry-be-happy propaganda his priority, over and above his professional reputation for God's sake or is he out of it?

Where do they get these guys and how low are the ones they get willing to go? (Dog gone low, apparently. You know, keep saying it and maybe people will start believing it.)

UPDATE: 9:46 p.m. ET: I stand corrected (thanks "pete"). "To drop to" or "to drop by" $80.00. Are we there yet?