Posted on 07/08/2008 8:02:02 PM PDT by stylin_geek
“Ergo there is no bubble”
But it sure is fun to think there is.
I think you hit the nail on the head. Funny how the price went wild when it did.
I don't reckon artificially manufactured booms like that are sustainable.
I’m usually more coherent than that. Sorry...
See link in post #7. It has a pretty good overview of the problems with China’s economy.
Not knowing business models and economy cycles, I wonder if it would be bad for the U.S. overly if China’s economy does collapse. If it’s not going to hurt the U.S. badly then I’m all for it. China has done more to damage and threaten our country than most dictator ran nations. Often times they’re even backing some of those nations that are hostile to us.
I’m with you on that. I do think prices will fall to around $100. Although, with oil’s history of dramatic crashes, it wouldn’t be that much of a surprise if it went lower
You may be joking, but people who are currently locking in high prices on their residential oil/gas service are going to be very disappointed when the price crashes this year. I'll bet a tank of gas that some congressman will ask they be able to renege on their contract.
Bookmark for a very careful read.
During a recent House subcommittee hearing on energy/speculation a panelist said he had just interviewed refinery execs who stated: "there is no legitimate reason for oil to be over $65/barrel today..." and substantiated that claim with documentation. To those who say there is no bubble and speculators aren't the problem I say thou doth protest too much. Read my tagline...if you are getting that hot under the collar defending big oil or speculators/traders in my opinion you have a stake in the game and an agenda. Your information is therefore suspect...I look for objectivity and experts who can talk about it without the volume of their voices elevating...
This figure shows the total world oil demand and supply (left scale) and the oil price (right scale) from 2004 to the first quarter of 2008. Data from: International Energy Agency and US Energy Information Administration (http://www.eia.doe.gov/ emeu/international/ oilother.html). Image credit: D. Sornette, et al
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