« Buzz is thinking about recommerce too | Main | Call your Senator and oppose the UAW full employment act »
December 7, 2008
so what is with oil?
Can we all go back to driving big SUV's? Was all the "peak oil" stuff just a bunch of crap? Don't believe it. The latest fundamental supply/demand numbers show that oil has peaked. The prices reflect the deleveraging of the financial system. When the people have to generate cash quickly, they sell what liquid assets they have. commodities sell. So prices are down. But demand/supply have not changed. We are still tight. We have overcorrected in price. I predict > $100/barrel by next summer.
Posted by Martin at December 7, 2008 10:59 PM
Trackback Pings
TrackBack URL for this entry:
http://www.nwventurevoice.com/cgi-bin/mt-tb.cgi/3358
Comments
Post a comment
Thanks for signing in, . Now you can comment. (sign out)
(If you haven't left a comment here before, you may need to be approved by the site owner before your comment will appear. Until then, it won't appear on the entry. Thanks for waiting.)