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

Quote from increasenow:

CONFIRMED: May 27th 3:10PM New York time...
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How does one day's trading confirm "NEVER"?
Your prediction, whether it plays out or not, can NEVER truly be confirmed, unless you post durring Armageddon. :D
 
Quote from increasenow:

Oil to NEVER hit $135.00 again...dated: May 22, 2008...here is why...read...

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The above looks correct as the latest as on 25 May 2008, Crude Oil fell down to $131.70 per barrel (Oil Dashboard) from the earlier at $132.19 per barrel (SKorean shares outlook - Lower on Wall Street's fall, oil price concerns)

More interesting links:

Oil price casting a long shadow

Historical Crude Oil Prices (Table)


The price also defied economic sense:

Oil Price Rise Fails to Open Tap

Another interesting article, which claims that “No one it seems is willing to proclaim the truth: there is no oil shortage.” (Oil's well, and prices will fall again | NEWS.com.au)
 
We are only about half way through a 20 year bull market in commodities. China and India will keep pushing up oil and other commodity prices as they continue to build their countries into modern industrialized nations.

Just one example - look at how many cars are sold in these countries today. As their populations continue to grow their disposable incomes you will see millions and millions of people buying cars who couldn't even afford an ox cart.

We may be at an intermediate top in oil and commodity prices but in a few months and years we'll look back and see these prices as cheap.
 
Quote from Gyles:

The above looks correct as the latest as on 25 May 2008, Crude Oil fell down to $131.70 per barrel (Oil Dashboard) from the earlier at $132.19 per barrel (SKorean shares outlook - Lower on Wall Street's fall, oil price concerns)

More interesting links:

Oil price casting a long shadow

Historical Crude Oil Prices (Table)


The price also defied economic sense:

Oil Price Rise Fails to Open Tap

Another interesting article, which claims that “No one it seems is willing to proclaim the truth: there is no oil shortage.” (Oil's well, and prices will fall again | NEWS.com.au)
More...
thanks Gyles...tremendous post!
 
How can you confirm a "NEVER" only a few days later???

Cant you see that the word NEVER implies a lot more than a few days worth of price data???

Quote from increasenow:

"Oil to NEVER hit $135.00 again"

CONFIRMED: May 27, 2008 at 11:04PM New York time
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Quote from jon.rose07:

We are only about half way through a 20 year bull market in commodities. China and India will keep pushing up oil and other commodity prices as they continue to build their countries into modern industrialized nations.

Just one example - look at how many cars are sold in these countries today. As their populations continue to grow their disposable incomes you will see millions and millions of people buying cars who couldn't even afford an ox cart.

We may be at an intermediate top in oil and commodity prices but in a few months and years we'll look back and see these prices as cheap.
More...

Demand is going to fall sharply in the USA, it's already happening. China and India are going to drop their subsidies. If Americans can't afford $4 gas, how can a Chinaman or an Indian? Saudi Arabia is going to expand production, more oil will come on line in a few years. Indians driving $2500 cars cannot afford $10 gas. Cheap gas will return :D
 
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