phillips49

Oil Bubble Continues Its Burst

Seems to me that it doesn't take much to cause price changes one way or the other when supply and demand are roughly in balance.

If the sole criteria for declaring and bubble is price decline, then every asset class was in a bubble. I don't seem to recall any prescient bubble callers on all asset classes. The last time I looked gold was off 27%, platinum 57%, copper off 50%, stocks off 40%.

I think supply/demand arguements are still valid for all asset classes.

It is my hope that the USA will use the relief on oil and gas prices to develop and implement plans to liberate us from foreign sources of energy. A world power can not remain a world power as long as it is dependant on foreign countries for it's energy. This is a national security issue that must be resolved before we export all of our remaining wealth. As it stands now, if we make someone out there mad, we're walking to work, if work is still open.