European debt concerns pulled stocks lower today, as investors sought safety in U.S. treasuries.
Gold moved higher as well, though it’s still just shy high of record nominal highs from earlier this week.
According to a report from Goldman Sachs (NYSE:GS), the outlook for commodities in general is "strikingly positive." This news arrived yesterday, and Goldman projected a 12% return in 2010 for the S&P GSCI – one of the largest traded general commodity indexes.
But the most striking prediction is no doubt their price projection for crude oil. Today prices are at three month lows of $71.64 – but Goldman predicts prices could be as high as $96 by December: a 35% increase in oil prices.
To take advantage of the coming bull market in crude oil, Energy Analyst Gregor Macdonald and Energy World Profits Chief Investment Strategist Ian Wyatt have collaborated on a special report all about an oil source located entirely within the borders of the United States.
Called the Bakken, this oil field is located in North Dakota and the central Canadian provinces, and is estimated to hold over 5 billion barrels of oil – which would make it one of the biggest oil discoveries of the last 20 years. As you know, large oil discoveries have been few and far between of late, signaling that the long, slow withdrawal from oil is already underway.
In the special report, Ian Wyatt reveals three American oil companies with the best upside exposure to the inevitability of higher prices in the short term, as well as strong claims in the Bakken region.