Prediction: The Oil Price Bubble Is About To Burst

[ThomWV]

Within the week, possibly as early as tomorrow, you will see a notable drop in crude prices.

[earthside]

1. Why? n/t

[Vincardog]

5. It could only be that the speculators have found a more profitable way to steal our money

[Cant trust em]

7. as Woody Guthrie would say...

Yes, as through this world I've wandered
I've seen lots of funny men;
Some will rob you with a six-gun,
And some with a fountain pen.

[HCE SuiGeneris]

23. Corn, wheat and rice futures now causing inflated food prices. Wall Street without

proper regulation is bankrupting the nation and the world.

[poppysgal]

8. I'm from Missouri

show me.:eyes:

[auntAgonist]

2. how so? .. n/t

[pscot]

3. Yeah. Why?

n/t

[The_Casual_Observer]

4. It's bound to happen, but I don't think it'll be for a while & where

we're at might be below the bottom yet.

[lonestarnot]

6. Because we have a nominee?

[coriolis]

9. HAHAHAHA HAHAHAHAHA

Can I get some of whatever you're smoking?
:rofl: :rofl:

[stray cat]

10. Its not a replaceable commodity so I don't expect much of a drop

[KillCapitalism]

11. I'm doubtful about that.

I don't think that you'll see crude EVER under $100 again.

[bbinacan]

12. I hope you're right.

I've heard that without the speculators, oil should be around $70.

[Zywiec]

13. That's what you said back in February

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=389x2934371

How'd that work out for you?

Just sayin'

[ThomWV]

15. In February I said within 18 months you'd see prices at or below $75.

I believe that was how I put it. I actually think it will settle in the $45~60 range myself.

[Zywiec]

16. You said "Bet oil prices will drop today, and continue to drop for a while to come"

Maybe you meant within 18 months, but you said starting back in February.

Here's my similar prediction:

I bet temperatures will rise today and continue to rise for a while to come!

[ThomWV]

18. Dam me and my intemperate statements :~) nt

[Javaman]

24. What ever your crystal ball says, mine is a little better...

It will never ever go below 80 bucks on the inflated dollar. Why? because in order for the tar sands and the tar shale to be profitable the price of oil has to maintain a price of $80 or better (that's inflated price numbers due to the crappy dollar)

Since Shell and all the other big oil companies have sunk on the order of 12 billion each in developing those areas, it will be a very cold day in hell before 1) oil drops below 80 bucks and 2) the dollar is strong enough to convince the world, who are dumping the dollar as fast as they can as the tradable denomination for oil, to use it as the oil based standard.

Unless bernenke suddenly has a flash of inspiration and decides to raise the fed interest rate and brings down inflation at the cost of the market collapsing, we won't see "cheap" oil for a very long time to come.

there is absolutely no incentive for foreign markets to suddenly switch back to the dollar, especially Iran and Russia.

If the price of oil is only high due to "speculation" I suggest that the price of oil will hit a "low" of +$100 bucks. I don't ever believe we will see double digit oil prices ever again.

Also given the fact that the commodity traders are having a field day on the price of corn, soy and especially rice, due to the high oil prices, I don't see them wanting that to collapse any time soon.

So given all this: what is your rational for thinking that prices will go down?

[Mountainman]

27. There is always the law of diminishing returns. At some point traders will see

less and less return on their investments and turn to something else.

[spinbaby]

14. Electricity, real estate, oil, rice...

Since the monkey took office, we've had no end to speculative bubbles.

[ThomWV]

17. You folks should pay more attention to the real world and less to the doomsayers.

Things are happening all over the world that demand that the price of oil come down, and today it was more apparent than ever that the people who are buying into the speculative market today - and I mean this afternoon - for oil are about to lose their collective asses.

Anyway everyone better hope I'm right because if I'm not we're all screwed.

[Mountainman]

28. You are right.

[David Zephyr]

19. I believe that at some point oil could drop to as low as $60 because of the insane speculation.

I don't have your crystal ball as to how soon it will be, ThomWV, but I've told many of my friends to expect this bubble to burst.

Those who are being suckered into investing in high energy stocks will soon be left holding the bag.

As recession hits the U.S., as UPS trucks consolidate routes, as inventories in factories and stores sit idle, the slow down will spread to Asia as well as the North America and the demand for oil will drop and when it does --- even in the slightest --- the speculative bubble on oil is going to burst.

I agree with you, but I don't know when.

I do hope you are right in your "prediction" as to the timing as the sooner it happens the better.

[number6]

20. after we have WW4 and half the world

population is killed off ,..maybe

Bushy and the neo-clowns are workin it now,..

starting with bombing of Iran ...

[bananas]

21. The Last Fool Theory?

"Normally known for optimistic forecasts of lowering oil prices, Mr. Yergin's firm now says the price could rise to $150 a barrel this year."
http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=115x146845

[Zywiec]

22. Oil rose above $126 a barrel for the first time Friday

http://biz.yahoo.com/ap/080509/oil_prices.html?.v=19


I hope you're not a gambler!


:rofl:

[GetTheRightVote]

25. It would be nice and a little bit over due from my way of thinking

Go Obama Go !!!

[Mountainman]

26. Gas in our town dropped a whole 2 cents yesterday.

From 3.99 9/10 to 3.79 9/10

[Dreamer Tatum]

29. The dollar is strengthening a little...that should help put downward pressure

Not sure there's much else to support easing of prices, though.