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Old 07-20-2008, 11:59 PM
 
3,460 posts, read 5,070,768 times
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Quote:
Originally Posted by Sage of Sagle View Post
Can you elaborate? I don't really understand oil speculation, so I'm interested in how it can nearly triple the cost...
There aren't many good places to invest your money safely these days, so instead of investing in conservative investments like bonds and real estate, people are flocking to oil, gold, etc.

This means a higher number of people are showing up to the commodities auctions, and a packed auction is more likely to fetch high prices than an auction which is not well attended.

Imagine auctioning off your house. If two real estate speculators showed up in a relatively cool market you'd lose your shorts. If it was a hot market and fifty speculators showed up, you'd get top dollar.
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Old 07-21-2008, 02:45 AM
 
Location: Sandpoint, ID
3,110 posts, read 9,689,187 times
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Ah, understood, thanks for the info.
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Old 07-21-2008, 07:57 AM
 
55,086 posts, read 43,926,653 times
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Quote:
Originally Posted by bchris02 View Post
Don't be so sure. Theoretically, if we were to drill in ANWR and offshore, and at the same time there was to be a recession in China, we could end up in the $20 range fast. If just one of those happens, we would end up in the $40-$60 range fast.
You were linking to blogs like this just a few weeks ago...seems like you have all the possibilities covered as long as it's between 20 and 1000.

//www.city-data.com/forum/polit...as-2010-a.html
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Old 07-22-2008, 01:24 PM
 
2,539 posts, read 3,696,509 times
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I'll settle for $45 by Christmas. Let them eat sand!!
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Old 07-22-2008, 01:34 PM
 
Location: In The Outland
6,023 posts, read 12,233,420 times
Reputation: 3535
I'm not buying into those kinds of projections. It's a freaking election year ! In the mean time I've been walking a lot !
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