Oil price bubble or Peek oil?................

[Mega]

Max Keiser has had a go go with some bloke whom sez that the price is about to collaspe again...........mind you:-
http://www.energybulletin.net/storie...fineries-redux
& we had 20% reduction of production from Northsea,Mexico & Norway....Libya is still not 100% Iran getting KILLED.............

Mike

[Starving Steve]

Re: Oil price bubble or Peek oil?................

With China developing and prospering, the same in SE Asia, the same in India, the same in Eastern Europe and Russia, the same in Latin America, why would oil go down in price? With more people in the world, with more inflation, why would oil go down in price? With no short-term substitute for oil, why would oil go down in price?

Or let's think about the future price of oil this way: If oil goes down in price, it won't go down in price for very long. Oil is expensive to find, to pump, to refine, and to deliver. So, why would oil be sold for less than, or equal to, its cost of production?

And with the green movement trying to make trouble for the oil industry, the near future for gasoline looks like $5 per gallon in America. That will not be peak oil; that will be, "just the beginning oil".

[Mega]

Re: Oil price bubble or Peek oil?................

I guess we see very soon.
Mike