Hi!

It IS possible that oil could be at $80 by Jul. Improbable, but not unbelievable.

What WILL happen, however, even if oil is $80 by Jul '08, by Jul '10, and beyond, oil will be WAY more expensive: $150? $180? $220? $250, or maybe even higher.

Oil going all the way down to $80 would be a temporary dip.

Oil prices will go up and up and up, in the long run, until we dramatically curtail using oil as a transportation fuel. Then, it will probably go down to $50-$80 and stay there, and it won't matter, because oil will be used to make stuff, not burn in our automobile tanks.

cliff
YIP