Burticus

Oil Bull Market: Fast and Furious

Remember, the current oil rally follows a 75% decline in price to around 35 FRNs, about half the price where oil was trading in the year prior to July 2008. This makes comparisons to prior rallies very tenuous. The recent unprecedented massive increase in the fiat electron currency supply by our central banksters adds a major currency debasement factor to the usual supply/demand fundamentals. Given the serious depletion of the world's major oil fields and limited exploration and development of deep water and alternative sources at today's prices, it is a virtual certainty that oil prices will rise to new heights in the next few years, despite the Great Recession.

While cautious in my current long position, I am certainly not ballsy enough to short oil at this point and definitely not in the long term.

Please spare me the whiney-cryey "blame the speculators" and "bad for the recovery" comments. Mr. Market will do what it will do and we will all live (or die) with it. If you don't like what you see, fire all elephants and jackasses before America becomes a fascist/socialist/comm... economic system under a totalitarian oligarchy.