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  • OPEC Targets Higher Oil Prices: Who Wins and Who Loses [View article]
    OPEC has a very spotty track record sticking to lower production quotas. The temptation to pump a few extra barrels is ever present. Also, the global economy is still several months away from a meaningful recovery.

    The American consumer has largely made the shift to higher milage cars and has learned how to eliminate frivolus driving. Any hike in gas prices will be met with the newly learned reponses of reduced driving and a continuing shift to hybrid cars.

    While it is entirely possible we could see $75 a barrel oil again as the global economy inevitably recovers, a near term return to $100+ is a longshot at best.
    Dec 21 23:42 pm |Rating: 0 0
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