Russia has stopped exporting Oil. Russia's unexplored/undiscovered Oil reserves are bigger than Saudi arabia. These Oil Reserves can feed worldwide demand for next 40 years.
The substance of this thread is that, this thread was started before Goldman Sach's prediction of $30 was known to the world. Goldman Sach is NOT God.
Look who is talking...hang yourself , lowlife riskfreetrading Registered: Jan 2008 Posts: 2638 08-22-08 02:51 AM Are you Jewish?
Where are the oil bulls??? Where are the oil bulls predicting peak oil and the others who said we had to drill drill drill drill drill...... OIL will not see $100 for a very long time, I really think it will take at least 5-10 years to get back to $100 and $200 probably never. I would go long oil when its trading under $20 a barrel, by then will see $1.00-$1.25 at the pump.
Hedge fund 'speculators' of oil,gold, and all commodities don't have any money to speculate. all that money was leveraged money to speculate on commodities now that money has to be returned or called.
Agree, it was all built around speculation, the kind of leverage they were using just a few months ago is now unheard of today.