Reply #27: They started shorting a couple of weeks too early.

[DCKit]

Apparently, not everyone got the memo. It's the threat of regulation, even prosecution, of commodities trading that's currently driving the price down. We've been howling long enough that Congress is beginning to take us seriously.

Unless you believe that China and India have suddenly cut their oil purchases or that there is a sudden glut in the market - neither of which has has much influence on the price we're paying at the pump or grocery store.

Regardless, this validates the commodity theories. BTW, anyone know how much profit they made in the past three years betting on the ever-increasing price of a barrel? I expect some percentage of the people involved in their trading will never have to work another day.