Quote:
Originally Posted by marketsmart
yawn... this was already predicted.. its called DEMAND... if the speculators were driving the price up as congress and the media would lead you to believe, then oil would still be going up...
the richest investors in this country have already said oil would retreat to at best $80-90, settle there for maybe 4-6 months, and then start climbing again until over $200+...
however, if isreal does something stupid like attack iran, you will see oil hit $200 in less than a week imho...
the bottom line is people are conserving fuel right now any way they can and that is what is lowering the price of oil... however, china and india's demand is growing on a daily basis and will eventually lead to tighter supply that will cause oil price increases regardless of US demand...
|
The price of oil doubled in the last year did demand also double?
The last couple times energy prices have increased like this was when Enron and Amaranth Advisors were running rampant on deregulated markets. The richest investors at that time also said it was due to demand.
We have the largest investments banks in the world taking controling interest of underlying oil infrastructure while at the same time making huge bets on oil futures. These banks are making obscene amounts of money and its not hard to figure out where that money ultimately comes from.