Goldman Sachs’ Oil Oracle of Indian origin, Arjun Murti, is making waves.
They are calling him Arjun ‘‘Spike” Murti, but his real middle name is Narayana, the supreme manifestation of the Hindu god Vishnu. Supreme he is, in the oil world. The little known Indian analyst at Goldman Sachs has become a cause cilhbre a doomsday prophet for his forecasts about oil prices, based on what he calls the ‘‘super-spike” theory, predicated on rising demand for crude and limitations in refining capacity.
Murti, 38, now a managing director at Goldman Sachs, first came to the fore as far back as 2003-2004 when he predicted that oil prices would breach $80 a barrel when it was still in the 30s. He was sneered at. He was mocked again when he predicted in 2005 that it would double from $50 to $100 before the end of the decade. Last month, when he forecast that a barrel of oil could even touch $200, no one was laughing as it surged to $125 on Friday.
Murti was only repeating what Browder said in April 2006.
In the meanwhile, what Soros predicted in 2006 is coming closer.
Iran may be withholding information needed to establish whether it tried to make nuclear arms, the International Atomic Energy Agency said Monday in an unusually strongly worded report.
The tone of the language suggesting Tehran continues to stonewall the U.N. nuclear monitor revealed a glimpse of the frustration felt by agency investigators stymied in their attempts to gain full answers to suspicious aspects of Iran’s past nuclear activities.
