G. L. Turner

Forget $100 a Barrel - Oil Will Plummet to $30

1) Oil will go back to $75 as per the will of the Saudisa dn The Kuwaitis...who split with the Bush/Cheney/Putin/Iran club earlier this year.
This way, they control it, on balance, in the world. They don't won't the new oil sourcees to supplant them and their revenue streams.
2) India and China's actually demand, while appearing robust statistically, are, in the aggregate, not large numbers. 13 million cars in China to 200 plus million cars in the US. If they average 6% car growth and we cut back driving several % points per annum over the next 4 years...the difference in actaully consumption (demand) is liking looking at the statistical weight of a watermelon to that of a grapefruit...
3)- Therefore, when the new discoveries, and there are more annoucements coming soon....are here in the next 4 to 5 years...there will be plenty of supply ofr a good sustained period..
4)- The biggest consumer of OIL, the most dangerous consumer of OIL, and the real culprit behing the high prices whihc were not connected to TRUE S/D Fundamental Facts - is the dark army of Goldman Slacks, MS, JPM and BBank. Once they are 'Reeled IN' and not allowed to 'consume oil (futures)'...prices will stay steady and in balance for years..
BEWARE -- they have purchased an interest in the new Dubai Exchange so that they might once again run up prices - as they will be out of the range of the lame CFTC and US Government.
Greg