Faisal Laljee

Is It Time to Bet Against Oil?

One thing to understand about the Saudi's is that they and the oil producing nations have it in their best interest to keep oil priced moderately high, but certainly not exhorbitant. I would think they want oil to be around $75 or so because its the sweet spot where they will keep making lots of money and governments around the world would be too passive to consider alternative sources too seriously. How often do you hear T Boone Pickens wanting to buy wind energy, coal and solar energy sources?

I do agree that we will get used to $140 per barrel, just like Iraqi's got used to Saddam, Afghanis got used to Taliban and we got used to Bush and his policies. But I am not sure if "getting used to something" is how we want to be.