20 reasons why Oil to NEVER hit $135.00 again...dated: May 22, 2008

[increasenow]

Quote from ehorn:

Well perhaps you may want to review the following topics of study (Global Supply & Demand):

Global conventional production peaked @ 74.3 MMBD in May 2005

Current figures (Total conventional and non-conventional):
Demand 87 MMBD
Supply 85 MMBD

Cantarell is shot
Russia annouced it peaked in Q4-07
Global GDP growing at 4%, while total supply is growing at 1%

thanks...very interesting...

 

[increasenow]

Quote from Sniemiec:

I get this guy's videos in my inbox every week or so. Always pretty doom and gloom but worth watching...

http://gannglobal.com/v/cl09/

thanks Sniemiec...will check it out...INow

 

[increasenow]

this quote is from the article link below...

"Crude oil speculators on the New York Mercantile Exchange cut their net long positions in half last week as prices began to fall, according to CFTC data. Net crude long positions fell to 25,867 in the week to May 27, from 50,060. "

http://news.yahoo.com/s/nm/markets_oil_dc;_ylt=AiZWnIEOLHL9wftOipHYlhSAsnsA

 

[increasenow]

5-Days 127.94
20-Days 126.44

CL already under these 2 current MA's...$120.00 price is next, once taken out...watch for more downfall...if closes under $125.00...then $125 becomes resistance and $120.00 support...until $120 brokern through...bearish CL move continues...

 

[chewbacca]

look out for endless hurricane rumors as a new way to manipulate the price of the energy complex higher

 

[increasenow]

Quote from chewbacca:

look out for endless hurricane rumors as a new way to manipulate the price of the energy complex higher

believe new'super resistance' of Oil is $130.00

 

[increasenow]

this wed EIA 10:30am numbers will be huge this week...INow

 

[jonbig04]

How can you honestly think oil is going down in the long run? shit it might go down to $25 in the short run who knows, but there is increasing DEMAND and limited SUPPLY. Period. End of discussion.

 

[njchino371]

You could even ignore supply and demand and think about the most logical fundamentals. Oil was what, 30-40 a barrel before war? Let's see, Bush didn't raise taxes for the war, the fed cuts rates like there's no tomorrow (until recently), credit crisis, fed injects billions in liquidity to bail out the banks. Hmm, gee I guess dollars just grow out trees, literally. Or maybe...just maybe...after years of getting beaten down, the dollar is finally getting its ass kicked. And what monetary unit is oil based on? Hmm, Ron Paul just may have point. Time to get the hell out of the US, move to China like Jim Rogers.

 

[jonbig04]

Quote from njchino371:

You could even ignore supply and demand and think about the most logical fundamentals. Oil was what, 30-40 a barrel before war? Let's see, Bush didn't raise taxes for the war, the fed cuts rates like there's no tomorrow (until recently), credit crisis, fed injects billions in liquidity to bail out the banks. Hmm, gee I guess dollars just grow out trees, literally. Or maybe...just maybe...after years of getting beaten down, the dollar is finally getting its ass kicked. And what monetary unit is oil based on? Hmm, Ron Paul just may have point. Time to get the hell out of the US, move to China like Jim Rogers.

Oh and THAT. Who in their right mind would actually think oil is going down long term?? I dont get it.