Remember last year when they told us (through the media) that this summer gas would hit $3.00/gal?
Translation: "We're gonna screw ya. But we're gonna be nice and tell ya when we're gonna do it, how we're gonna do it and by how much we're gonna do it!"
"And you poor bastards can't do anything about it. Ain't power GRAND??!!"
The democrats need oil to be high to have any chance of winning at anything. Also the price suddenly backed off on Friday, if this fellow didn't get all his shares sold, he would need to pump oil shares.
I understand what you are saying and it's true, however if one believes in these prognostications from guys who have been previously correct then even little guys can still profit. Just think about the some schlub with a little account to trade oil or whatever other commodity, stock, currencies, bonds, etc.
Return toward the end of 2003, when crude oil was hovering around $29ish $31ish per barrel. If the schlub bought some real long, cheapo call options at a strike price of between $60 and $70, and held them, selling when his options hit the strike prices he made between 30k & 40k on 'out-of-the-money' options he paid under $250 for.
What I am saying is if guys such as Jim Rogers are stating oil could go well beyond $100 a barrel, bet they are playing it safe and going long on the 'energies', while shorting other market sectors.
Think about this as well, if oil prices double in the future, in which direction will stock indexes be price trending? Will gold, silver & platinum simply sit at current price levels once oil soars due to Iran, North Korea or some other horrific global or domestic event(s)?
Because the Fed can 'print' more dollars when oil goes up and assets of the rich (like real estate) will be priced higher as a result of inflation.
BUMP