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Fred Voetsch » Comments » BP

  • Oil Won't Stay Down for Long [View article]
    "In other words, were oil prices unjustifiably too high due to a speculative bubble or because the global economy came to a screeching halt almost overnight?"

    Oil reaching almost $150 was CLASSIC speculation. There were no changes to account for the runup and just a few months earlier everyone was amazed when it hit $100. I am surprised that this blogger, who seems so lucid on other topics, refuses to see that oil was in a classic speculative bubble and that most bubbles takes many years and often decades to boom once again.

    --Fred Voetsch
    Dec 13 14:52 pm |Rating: +3 -1 |Link to Comment
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