Originally Posted by
Clear Right
Supply and Demand Economics, Global Demand from China and India's Industrialization, and Past PEAK oil, bottom line any hope of oil dropping significantly is just that HOPE, not going to happen. Alternative fuels and a total change in the American Public mindset is going to have to take place. More public transportation, people will have to move closer to Cities and use subways and busses. Welcome to the real world folks, the current state of the economy is just accelerating things in the U.S. It's a GLOBAL ECONOMY now folks, economist are already talking about tying currency rates to the yen, instead of the dollar. We are no longer the only real players in town, now we are just like every other industrialized nation, paying $4.00 a gallon, it's been happening for decades in other countries and has finally caught up to us. Oil may drop some, but never to the levels we saw years ago. Good luck to us all, because it is going to be a tough Industry to survive in.
In the six months that we have witnessed the rapid ascent of oil prices, we just joined the "global economy" and became another "industrialized nation"? That's pretty abrupt. Do you think this rapid run-up in the oil market is justified based solely on demand? I don't buy it. I think speculation is the number one cause for the current state of energy prices and the whole thing is bound to come swinging the other way, either sooner or later...it always does.