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Old 11-07-2014 | 08:14 AM
  #171841  
Mesabah
:-)
 
Joined: Feb 2007
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Originally Posted by RockyBoy
Ahhhh...a decade is a long time. It will stay low this year then be right back up. Most of the industry thinks a long term (decade) average will be right around 90/bbl.
Hehe, and they are always wrong, so pick higher or lower. I'm thinking lower, but it's a guess based on.... I don't see a materially weaker dollar going forward, QE is done, the Fed will spend at least a decade unwinding the balance sheet, OPEC can pump cheaper than us/will not give up market share, the Asian economy will be exposed for the fraud that it is, alternative energy, Keystone pipeline, no material demand from millennials to replace retiring baby boomers, more efficient cars and aircraft, Delta oil refinery will flood market with cheaper gas since the upside outweighs the losses, I could list hundreds of things.

Speculators are a big one though, they were probably responsible for most of the past run up, so hopefully that is the past. Usually, bubbles take a decade or more to re inflate, so we got that going for us, which is nice.