The bulls say we are at or near 'Peak ' oil.With China,India...

The bulls say we are at or near 'Peak ' oil.

With China,India yada,yada,yada etc,etc we will see Oil at $150 maybe even $200 by years end.

The oil bears say that it is the speculators who are driving up prices.

If the bears are right and it is the speculators, these new margin calls will cause oil to collapse.

My opinion is that high prices are the best cure for high prices.

I think we reached some type of short term top this week as the crisis regarding petrol prices reached a crecendo all over the world.

from the Daily Telegraph.

Oil price profiteering to be curbed at ICE Futures Europe and Nymex
By James Quinn, Wall Street Correspondent
Last Updated: 10:52pm BST 30/05/2008



Two of the world's largest energy exchanges have forced traders to deposit significantly more money when investing to curb volatility in energy markets and drive out speculators.

http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/05/31/cnoil131.xml