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Oil has crossed over the $111 mark. I look for it to hit $113 tomorrow. $120 is definitely possible next week especially if the US sends ground troops into Libya.
Question is, how much can speculators milk the Libya excuse? How high will it alone get them? $130? $150? $200? Libya only produces 3% of the world's oil and I don't think that has caused any supply shortages as of yet. Since the fighting broke out, oil has risen from $80 to over $110 with no short-term ceiling in sight. Long term is definitely much higher as production declines due to peak oil, but we aren't quite there yet. Does anybody think this has gone too far too fast?
This is sick. I'm all for a constant steady rise in oil, maybe 2x inflation.... but this is rediculous. And I say this even though I am playing oil etfs and options really hard. My wallet loves the swings.... the little voices in my head hates them.
How many little "voices" do you have in your head? Are any of them dogs? Do they give you instructions? Do you carry around Catcher In The Rye? Do you go by first, middle and last name?
How many little "voices" do you have in your head? Are any of them dogs? Do they give you instructions? Do you carry around Catcher In The Rye? Do you go by first, middle and last name?
Nah, the voices in my head are those of the founding fathers. Thomas Jefferson has the loudest voice. Those damn $2 bills.
Oil has crossed over the $111 mark. I look for it to hit $113 tomorrow. $120 is definitely possible next week especially if the US sends ground troops into Libya.
Question is, how much can speculators milk the Libya excuse? How high will it alone get them? $130? $150? $200? Libya only produces 3% of the world's oil and I don't think that has caused any supply shortages as of yet. Since the fighting broke out, oil has risen from $80 to over $110 with no short-term ceiling in sight. Long term is definitely much higher as production declines due to peak oil, but we aren't quite there yet. Does anybody think this has gone too far too fast?
It's an oil bubble, plain and simple. There is no justification for such a rapid increase when there is an oversupply of oil; our consumption has declined since peaking in '07. Speculators and hedge funds are driving it up. The same thing that happened in 2008 is happening now, and like 2008 this bubble is going to burst sooner or later.
It's an oil bubble, plain and simple. There is no justification for such a rapid increase when there is an oversupply of oil; our consumption has declined since peaking in '07. Speculators and hedge funds are driving it up. The same thing that happened in 2008 is happening now, and like 2008 this bubble is going to burst sooner or later.
Yup, but just like 2008, hopefully we will double our money out of it.
This whole thing going on in the middle east was planned. Oil is going to continue to rise from now on. There will be no relief like in 2008. Basically, the idea is to raise oil so high that it puts the world in a depression. The "speculators" by the way are members of the Bilderberg group, just like in 2008. The difference this time is they are not going to lower it back down. Oil will eventually hit $200 a barrel once Saudi Arabia is attacked by the Muslim Brotherhood, and the effects here in the US are going to be absolutely devastating.
Well duh! When a guy ends the wars in Iraq and Afghanistan and closes Guantanamo, passes gay marriage, prevents ecological disasters in the gulf, while saving the economy then you need to cut him some slack on some topics.
Seriously though, I keep waiting for him to pull off the heavy latex mask and find out it's been Bush still in office the whole time.
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