ldker

OPEC's Cuts Can't Fight Global Recession Headwinds

I have to say you have to think logically about oil price - this is a rubber band snap back to the extremes of 147 oil brought on by the single most important thing people seemed to be less focused on = hedge fund deleveraging. At some point this deleveraging will stop and we will see oil be back up beyond 70 - I am not saying it won't over shoot to the down side into the 50's, but to feel confident that it will stay in that range for anything but a short amount of time is hard to believe. 4 months ago we were at 147...should Hummers come back in style and run over the smart cars now??