Originally Posted by
Spooled
Oil will bust soon. The entire commodities market will bust.
Billions of dollars have been flowing into all these new ETF's based on commodities, which is driving the prices up due to speculation.
USA Today had a good article about it today. Gold was over $1000 in March, and is now back to $800.
Just a matter of time. Oil prices will go down.
You are becoming one of the few who still thinks so. Even if it does go down it will not go back to $60. The airlines were struggling before all this came along. Even if oil were to drop tomorrow disaster in the airlines most likely is unavoidable at this point.
If oil does keep rising over the summer our nation could be facing recession or depression and collapse of the dollar. Some serious hard times for a long while. At that point no one will care much about the price of oil if they can not get a job to buy it.
Skyhigh