Moses

Only the Oil Companies Win

Oil won't stay high forever, at this point pure speculation is driving it higher. Eventually a catalyst will come along and oil will drop well below $100. It's a bubble, just because it is inelastic does not mean it is not. The price has increased much faster then the demand caused by the emerging markets, not to mention we are finding new oil fields all the time with new ways of getting to them. What will cause oil to finally plunge and how long till then is anyone's guess.