Discussion in 'Commodity Futures' started by Lights, Jul 2, 2005.
can you say, euphoric action.
Oil looks very cheap right now!
Lord help us. You'll have to be long oil just to break even with what you'll be paying at the pump.
But bigger than the pump is the price of plastics. Everybody forgets that plastics are the main use of oil, I heard 70-80%.... (but that figure may be wrong, of course). Buy an environmentally friendly vehicle all you like, look around and see how much plastic surrounds you. Now imagine prices on those items skyrockets, and the plastic items that were used to make those items, and the plastic items that were used to make THOSE items, etc.... That much of a universal shock to the economy will NOT be a good thing. The snowballing effects of it will not be pretty.
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