cfo4nova

$125 Oil Not Sustainable for the Time Being

This author may be an amatuer, however most investors reading this and in the market are lemmings anyway. I don't care how sophisticated you may think you are with your MBA's and PhD's in math and theoretical bla bla bla....more people in the market are wrong more than they are right, no matter how smart they tout themselves to be.

When the oil minister of Saudi (or was it Syria) spoke two weeks ago, he made it abundantly clear that there is NO LOGIC behind the prices being what they are, and was just as clear that they were laughing all the way to the bank while the insanity was continuing. Smart people all over the world are seeking logical explanations for oil prices being driven by the insanity of irrational human behavior.

FEAR and GREED are the drivers of this market, not peak oil, not the colapse of the US Dollar, not excess demand, not China, not a verbal shot over the bow of the Iranian politboro. The speculators are having a ball getting their daily dose of adrenaline. One day in the not so distant future, this will all correct itself. I am just another bozo on the bus with my better than average education, calling a spade a spade.
There is so much US-egocentrism oozing out on the pages of SA that few acknowledge the pain the rest of the world nations feel in their own wallets when they pump the goo into their tanks. Demand will fall, perhaps not for long, but surely enough to reduce enough fears and enough to knock the greedy specultators off their bubble. More highly educated smart people will lose their shirts thinking they had this whole thing figured out. History will again repeat itself in this scenario.
This bozo predicts oil back at $105-110 by year end.