where too for the price of oil, page-7

Hi KS,

great post I must say, could not agree more

highlights all the BS that is reported in the media on a daily basis

A lot of what journos and finance people say is hilarious

When they said oil at $200/barrel by year end because "oil is hard to find" and "demand was rising" no regard is made for what a giant ship world oil production really is. You cant just put the brakes on it and expect it to slow down quickly to match demand - opec dont meet daily. But at $150/barrel you can bet many people are cancelling their weekend trips and taking the train to work. Then just a small whiff of a glut in the market causes traders to liquidate their longs in oil en masse.. and here we are today!