Oil may remain 5 years in a slump?
- Thread starter crgarcia
- Start date
I believe for next year it will just continue to go down, it wonât average $50 for the whole year, this year for example it was supposed to reach levels above $500 according to some experts, see where it is right now. Anyways, men have to work on other energy sources now, it is necessary for the oil to cede.
Oil is going to pop soon. With all this quantitative easing going on around the world, commodities are going to float higher.
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Thats the yearly trend,anoukA;
demand destruction continues.
And a brief counter-trend remark;
Israel hits Iran's nukes, which they should do, do it well.
Probably see a spike on that.But I am still looking for a good buy on an electric lawnmower,demand destruction continues.
Oil might not even make it out of the slump. Is it too crazy to think that price will continue to decrease âtil its end and men will by that time have developed alternative energy sources that can supply the fossil fuels demand?
According to Eric Bolling, a veteran of the trading pits oil prices may rally even despite of OPECâs statements, according to him the OPEC never does what it is supposed to. Bolling says that more important than what OPEC says it is to watch when the gas prices to go up.
I worked on the floor with Eric, his badge was RBI, he was in minor leagues for a stint before coming to the floor. We called him Raging Bull Idiot though. He printed money over the last few years in the bull market, but I would be willing to bet he has given alot back. He is a true perma-bull, hence the name.