Thursday, June 2, 2011

I Win

Pay up, Hayward.

(Original gauntlet here).

Hayward's prediction: oil at or below $75/barrel on June 2, 2011.

Todays' closing price: $100.29/bbl. Don't worry, it will go higher still.

I'd love a hardbound copy of Carroll Quigley's classic The Evolution of Civilizations. He was a famed Georgetown professor - an achievement worthy of aspiration. He should also be remembered for decrying Georgetown's path to self-immolation in its frantic efforts to throw off its grounding in Catholicism in favor of academic fashion - already back in 1967. Prescient. If he could see us now...

You can have it sent to:

PJD
Department of Government
Georgetown University
37th and O Sts, NW.
Washington, DC 20057

1 comment:

Karl K said...

Of course, see Hayward's discussion of this bet:

http://www.powerlineblog.com/archives/2011/06/029173.php

Frankly I would never make a bet like Hayward's on oil over such a short period of time, whose price can be quite volatile, and whose price can vary based on factors, as he notes, outside the realm of supply and demand.

However, I would have NO hesitation making a bet that, over the next decade, we will NOT experience "peak oil" and will in fact, continue to discover and unlock huge reserves as technology improves in discovery and extraction.