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Originally Posted by kman
i agree with all of the above but i also think the oil market is being gamed from many different players with speculators just one of the usual suspects. Save for Canada (God bless their national sport) and the north sea countries, virtually all of the other players Iran and the rest of Opec, Russia, Venezuala... aren't exactly our best friends. I wouldn't trust them as far as i could throw them with being truthful in their reporting of on-hand inventories and production outputs, they hold this info pretty close to the chest, and none of it is really transparent for the market to be wonderfully efficient in its assesment. It will be eventually i think, but we are going to get there the hard way.
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We've been living the hard way for a few years now. What is happening, needs to happen.
Oil needs to be expensive, so it becomes a less attractive energy source, and other energy sources can compete...and researching alternatives becomes an attractive investment.
Then we get off oil and tell the middle east to kiss our a$$...and they can go back to killing each other as they have done since little baby jesus was watching baby Einstein videos.