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  • Fundamentals Don't Support Oil at $55-60 a Barrel [View article]
    Oil is rising because the supply will soon be falling rapidly. Major oil projects globally have been canceled because of the credit crisis. Meanwhile China and the rest of the emerging world still have a strong demand for oil.

    The only speculators I saw was on the short side, driving oil to an unsustainable price in the 30s. All this accomplished, besides allowing some speculators to make money, was to force even more energy projects to shut down.
    May 19 08:17 am |Rating: +3 -5 |Link to Comment
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