TARP

Where Does Oil Go from Here?

It makes no difference who's long or short. The reason why crude is so high is because the producer/supplier national are not pumping enough for the demand...It's not that the demand is out pacing the supply. It's more that the suppliers do not want to meet the demand so prices will rise. Remember back in the 80's when Bush Sr. went into Iraq because they were burning the oil wells by the thousands in Kuwait. Think about it, there was no alternative fuels like today. There was black skies of oil soot traveling to China, Europe and the Middle East for months and every ship with crude from the Middle East has to have a military escort. But the price of oil was between $27 - $30 a barrel because the Saudi's increased their output to over 80% with ease. Today we have Nigeria no producing due to war. We have Chile with strikes and Chiaves laying off 20,000 oil workers just to stop the output no doubt (He and Bush really are partners. The devil is in the details). And the US is buying millions of gallons of oil off the market to add to the largest reserves in the world. Oil demand is down -95,000 barrels in 2008 but the prices keeps rising.

I tell you when the oil producers decide they made enough money they will pump more oil and the price will drop like hot lead into butter. The North Sea stopped the 70's fake oil shortage. OPEC stopped IRAQI one from high oil prices. Clinton stopped OPEC from rising prices just before he got out of office and just by threating to release oil reserves. Russia, The North Sea, USA, Chile, Nigeria and the Middle East are holding back while oil prices keep rising. The alternative fuel that will stop it all Hydrogen the most abundant substance in the universe is at our doorstep. The oil whores know it and are charging all they can while they can.