November 1997: "THE NEW ECONOMICS OF OIL: With technology dragging down the cost of finding and producing the precious stuff, prices won't rise--even as demand soars."
Here is a chart of oil prices showing how it has fared since 1997.
The purpose of this blog is to collect and record examples of the numerous predictions, forecasts, etc... that turned out to be hopelessly wrong.
Please feel free to submit any examples of bad forecasts, with additional evidence of the forecast error if possible, unless its wildly obvious like a prediction that 'the world will end in 1985'. Send any submissions to BadPredictions-at-gmail-dot-com.
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