Oil prices wobble around inflation-driven trends, and long-term projections are best made with a ruler, not complex models.
Well, it is year end 2024, time for all respectable pundits to earn their keep by making predictions or by bloviating on the latest topic somebody has latched onto. So, we approached our favorite pundit, Mr. Question Man, to make his contribution to popular seasonal wisdom. Here is the interview.
The best we can say about the future, with any certainty is that the rate of population growth is falling faster than previously expected and that a huge amount of money has poured into the development of electric and hybrid vehicles, which will eat into the oil industry's biggest market, transportation. Beyond that, whatever goes into the econometric model is just highly paid guesswork, designed to make astrology look good.
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