Bhakta

The Good, The Bad, And the Inaccurate Oil Forecasts

It is clear the oil price rise was due to speculation, not demand, and the crash is also due to speculation the opposite direction, not demand.

One thing is sure, a lot of people have lost a lot of money speculating.

Two Explanations for Surging Oil Prices

Good article and good comments. I read "The Peak Oil Review" weekly for several years. It is full of expert analysis and discussion, and weekly news on all energy related subjects. When I hear some people say that there is no peak oil, and prices will fall back to the $50 range, I wonder who is paying them to say this? Are they trying to scare off some shareholders so they can buy in for less?

There is not enough discussion on how oil, priced in dollars, has not changed anywhere near as much for those who get their income in Euros, Pounds, Swiss Francs, Indian Rupees, Thai Baht, etc. It is the weak dollar that is creating the spike in oil prices, not the oil itself. Were the $$ go back to being worth what it was in 2000, then I would bet the price will come down too.