Originally Posted by
3wire
Oil below $44 now.
It appears to me as if this market is now being driven by true supply and demand and not market manipulation and speculation. If that is the case, we should see it stop around the mid to high 20's. Then it should slowly creep up about 3-5% per year to match the increased demand. Peak oil is a myth that was created by speculators to run the price to $147. Next year at this time the economy will be on the rebound, oil prices will be low, and hopefully this industry can get at least one good year before something else smacks us down.