fineye

Oil: The Inconvenient Truth

Everybody is relieved Oil is 'down', just to put it in perspective...
- Oil was up 465% since 2001 up to its peak in July 2008 (about $25 was the high in 2001, though it was below $20 for quite sometime)
- Oil is now up 320% from 2001 and has corrected by 25% from its peak.
- If Oil had hovered around $100, and never touched $145, we would've still thought the current $107 is way too high... but not anymore... now we believe it is down by 25%... and that's a GREAT news...
- To conclude... the "operators" took Oil up to that level so fast just to drop it equally fast so that the consumers 'feel better' to pay $100 after it dropped from it's peak by about 30%.
- Never be surprised if next Oil moves equally fast to $200 soon and drop to $150... and all of us will still be HAPPY.