opec can prevent the price of oil from falling, by cutting production. They cant prevent a rise in oil price by raising production. That has already been demonstrated...
Record Decline in Driving, Record Level of Conservation [View article]
No. Its not working. Petrol is not nearly expensive enough to make a difference. In Europe they pay around $9/gallon. Are there less traffic jams and traffic conjestions?? Of course not. So why should $4/gallon in the US make a difference? In a few weeks US drivers will get over the initial shock of $4 gas and revert to their old driving habits. At least til US gas reaches $9!!
James says: "There's also been some increase in global production this year, and more is expected."
Really? Where, exactly? And is it enough to offset declining production in Mexico's Cantarell oilfield, declining production in Venezuela, Russia, the North Sea etc???
Oil will come back down when supply increases or demand decreases. Until we see any sign of either, I would be very wary of DUG. Many wise and sophisticated ivestors got their fingers badly burned betting against oil, the latest one being T. Boone Pickens...
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why? PWE has been paying the same div when oil was $50...
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Is this really the time to be invested in the motor industry??
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Record Decline in Driving, Record Level of Conservation [View article]
In Europe they pay around $9/gallon. Are there less traffic jams and traffic conjestions?? Of course not. So why should $4/gallon in the US make a difference? In a few weeks US drivers will get over the initial shock of $4 gas and revert to their old driving habits. At least til US gas reaches $9!!
What's the Right Price for Oil? [View article]
Really? Where, exactly? And is it enough to offset declining production in Mexico's Cantarell oilfield, declining production in Venezuela, Russia, the North Sea etc???
Is the Oil Index Set to Fall? [View article]
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