No Rebound For Oil, Says Roubini

Nouriel Roubini, a.k.a., Dr. Doom, sees oil sticking between $30 and $40 a barrel for the balance of 2009.  So it’s about time for US car companies to retool those retooled hybrid factories and start cranking out SUVs again.

Bloomberg: “I see commodities falling overall another 15-20 per cent,” Roubini said. “This outlook for commodity prices is beneficial for oil importers, it’s going to imply that economic recovery might occur faster, but from the point of view of oil exporters, this will be very negative.”

See Also:
Roubini: U.S. Banking System Insolvent, $2.5 Trillion In Losses Coming
Oil Hits New Low, Below $33

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