Two guesses for next year's contest

If Matt Simmons of Simmons & Company and Philip Manduca of Titanium Capital were to enter next year's "Guess the year-end price of oil and gold" they'd probably have two of the more extreme guesses - $300 oil and $2,000 gold. First, Matt Simmons on CNBC:

That often heard "oil priced by the cup" story has never seemed on the mark to me - surely if you bought water, soybean oil, or other liquids in 1,000 barrel lots on a commodity exchange, you'd come up with a lower price.

No?

Other than that, Mr. Simmons appears to be the only one making sense again regarding the potential impact of Peak Oil as the CNBC on-air personalities all seem to think that markets are already adjusting to higher oil prices and that we'll make a smooth transition.

We will see.

On Bloomberg video this morning, Phillip Mantuca seems to think we'll be moving right past the $1,000 level for gold and toward $2,000 within the next 24 months (skip to the one minute mark).


His comment regarding the long term, that "hard assets are going to come more and more into value in people's portfolios over stocks and paper assets" seems all too obvious.

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