Oil will never go down. There is no bubble. This market is dictated by fear mongering.
They will use iran to drive crude over a hundred dollars.
These speculators are getting rich on the back of working americans and helping make chavez and iran's president rich.
I am getting sick of this bs.
The "speculators" are over-extended. A "speculator" had to buy it at $74 for it to go to $74.50. Those who bought at $60 are mostly out of the market now. I think they recent rise is short covering. The rookies are buying at the top.
Bubbles are built on fear and greed. The oil market is built on both.
"Oil will never go down." Sounds like we're near the top to me.
I remember "Qualcomm will go to $1000." The market started tanking the next day.
Vote for Socialism and Market-Price fixing, that is what the USSR did for decades for fuel and consumer goods !
So go check out the pictures of people shopping for food in the old Soviet markets !!!
Major changes coming, IMHO. And, you won't like them. And ALL the Dems care about is blaming Bush. And Bush seems paralyzed , or worse-controlled. I see social upheavel.
I'm usually optimistic.
"...This market is dictated by fear mongering...."
If that's the case, then nobody can tell me this is nothing BUT price gouging.