The possibility of war between Venezuela and Columbia has greatly increased in the last 24 hours, with Chavez ordering 10 batallions to the border and mobilizing the air force. The action in oil should be interesting tonight.
I really hate to bump this thread. I knew long term oil was going higher due to BRIC growth and weak USD. But the spike screams of a crash. Eventually oil is going to cause a recession, which will cut demand and lower prices... maybe down to $100. Don't short because there is no telling how high it will go. One hurricane in GOM and $200 oil this year is possibility.
Click on my profile and you'll see that my interests include losing money. I'm an excellent contrarian indicator. Any position I take, take the opposite and watch the cash flow.
LOL.. You're a good sport. Don't worry though, if ypu make enough calls, you eventually get one of them right. Kin is no William Rennick.
CL, Colgate Palmolive? What does Colgate have to do with the price of oil? Is toothpaste a petroleum product? Maybe that's why my breakfast slides down so easily...
YEEEHAEWWWWEWEWWW!!!! Don't be stupid. Think. Long Oil! Woof Woof! Yeeeeeeeeeehawwweeeee god bless the oil men in the whitehouse, without whom $120 oil would not be possible. Next stop, $135 in a month. :-D