Just wait till Iraq comes fully online....But, I agree oil higher, but 5+ years. This was a massive bubble, and will take time to digest...meanwhile I filled up for $2.35 this morning ;-)
It literally *is* around the corner by me. I paid $2.99 for PREMIUM gasoline yesterday (Chicago area) whereas I paid $4.50 only 4 months ago! WHAT A BARGAIN! I don't see the reason for most anyone to complain anymore.
Joe Lunchbucket can't win. Last winter it cost him a fortune to commute to his shit job. This winter he gets laid off from the shit job, but the gas is cheap. But hey, he gets to vote for a change in a few days. Little does he know regardless of who he votes for, next winter he'll be unemployed AND getting raped at the pump. And let me add, that next winter Joe's son will probably be registering for the draft as the body count from WWIII will be taking it's toll. 4000+ dead over 5 years will look like a cake walk. We'll lose that many every 5 days. The next war will be fought with big armies, with big weapons that inflict big death. We'll wish for the day when we were only fighting some screwball terrorist.
Call me crazy but I don't see Oil staying down at these low prices. There is always peak oil looming, sure there is less export but China and India will continue to grow and massive amounts of oil will still be needed. Supply and Demand. I think the recession is priced into oil to hedge the unwinding of the US economy at a future date. After global de-leveraging, the USD will tank big time and hyper-inflation will take place. Not to paint a gloom and doom picture but i'm being real about the situation. Oil will surge, Gold and other commodities will surge. Clean alternative energy will not be ready for another few years. Safe to say the Financial Crisis is relatively "stable". Get ready for the Economic Crisis coming soon. That's the real problem. My two cents....well, my one cent soon.
Boy, are you fu(*& bright there guy? Oil back to 30 and 40 and we might see 2.50 a gallon? Gas is 2.39 cents in Texas alone and oil is around 64. Hummm, lets think outside the box as most you idiots do not. Ummm massive influx of "Liquidity" ...money slawshing around. Now lets see, 6 months from now inflation could be near 18% if not higher. Carter inflation. And let me guess, you idiots will roll what ever little coin you have into the stock market right? Buy low they say. So, let see, if inflation kicks in what do you think is going to happen to oil? Trick question for all you who rode the short bus to your day trading firms. Why do I even bother with this lame ass site? Of course there were some who posted some intelligable points on Gold and Oil.
Crude is going to $200/barrel within the next 18-24 months. Transportation better hedge while it can.
saw gas at $2.37 regular today. Man, this is down almost HALF the max I saw a few months ago. Come on 99.9 cent regular!!!! Oil gets much under $50, I may go long a few longerm crude oil contracts and hold for a year. This cannot last, I can see OPEC slashing another 5 million barrels. Hey, if they can pump a lot less oil and make a lot more money, that is in their longerm interests. I think Russia and a few non-OPEC countries might jump in with cuts, they are getting killed at this rate.