Quote:
Originally Posted by AlienQ
The problem is not in production of oil but speculative buyers entering the market and driving up the prices
|
I'll edit out the last bit of that & say "bingo"
most economist agree that speculators are driving up the price of oil somewhere between 25-100% of it's "natural" price.
that would translate to what... maybe a "natural" price of ~$2.00 - $3.20 per gallon? (assuming the price of gas scales directly with the price of oil)
just as the housing bubble collapsed, so will oil investments.