seriously......put the smack down on crude oil.......this is getting rediculous.....record supplies and demand destruction yet prices have gone parabolic...........i'd like to see a $15 down day in crude.......smoke all the weak bears late to the party........besides its looking like boon pickens is going to blow up.
you dont understand.the Fed wants $150 oil.heck they would like $500 if they could get it there. ever occur to you they may be pushing the price up?well, thats what they are doing.I wont tell you why,you can figure that out yourself. Imagine paying $30 for a gallon of gas.What would you do?What adjustements to your lifestyle would you make?
the problem here that then the whole world will change Fed would be irrelevant as US will be a micro power THe world currency will be Saudi Arabian real And new super powers will emerge - Angola, Nigeria Iran will invade US for WMD and hang Bush It's in the best interests of the USA to bring oil down. Period. China question can not be resolved if we continue subsidise them by economic stimuluses
PPT is in the business of plunge protection; They don't know how to pop bubbles, only maintain them. Also many would argue that CL is not in a bubble at all and reflects the true supply/demand situation with a hint of hyperinflation.
Supply and demand is irrelevant. Its the dollar that is driving up crude and just about any other major commodity priced in dollars. This of course sucks in the speculators (i.e. hedge funds), further driving up prices. The additional consumption by China, India etc, got the ball rolling, but is only a part of the picture cause The Saudis and others CAN open the taps regardless of what they say to the press. It is arguable that the increased demand shouldn't have bumped prices at all over say $50 to 60 per barrel, as there is no shortage. Inventories may drop, but that is usually the consumer country's fault.