Originally Posted by
acl65pilot
Yes, yes, it was.
I agree to the second comment. The Fed needs to raise interest rates a quarter point. That will more than likely help adjust oil downward.
But the rest of the world is demanding more and more oil as the population continues to grow. Combine that with the fact that there is no new oil being discovered or drilled for (certainly not in the US) and you have a true supply/demand imbalance (versus simple speculation). Also throw in perpetual ME unrest.