cdcaddy

Is It Time to Bet Against Oil?

Until we have a sane and workable energy policy [which will take a while given our current Congress], a pull back in consumption will/could help stabilize oil at the $100 to $140 range. Face it - OPEC has their hands in our pockets and now that the price is where they
have wanted it...they will be hard pressed to see it fall. It wasn't by accident that Iran just launched a long range missle - and new fields will only fill in the gaps of those fields that are now lagging in production. There are so many factors in the price of oil now including the growing cost to find it - then extract it. Cheap oil is years away...but if anyone can find a way to replace it to some degree - it is the USA. Necessity is the mother of invention.