Unfortunately, it has blown right past $50. There is no "top" right now.
we are in an exponential curve so, ...
When Soros gives up.
Thank God there is only a month until the election, because this could start to get messy.
I filled up my car yesterday to the tune of $2.399 per gallon here in California.
I am sick of speculation driving the market when supply and demand is just fine. OY!
This run up on oil prices is based on future contracts on speculation. It does not adequately reflect the supply-demand side of the equation. Bottom line is the traders are making a killing at the expense of everyone else.
My liberal girlfriend insists that its Bush's fault. Bush went to Iraq for the oil yadda yadda. I asked her "well, if Bush went for oil, wouldn't he be selling it to us cheaper now?" and she had no response.
Prediction:
Tops out at $55.43 and then starts to fall on 11/3 after Bush is re-elected.
Sell all my shares when it reaches $57.00. Order good until cancelled.
Does anyone have a graph of oil/gasoline prices in constant dollars for the last 40 years?
Teheran sees PANIC SETTING IN
http://www.tehrantimes.com/Description.asp?Da=10/7/2004&Cat=9&Num=021