Alberta farmer
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- Nov 13, 2008
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mobgrazer: I think you have got a pretty good plan. I suspect oil prices will stay fairly low until summer and then probably rise...depending on the economy. Right now the world is awash in oil with tankers sitting off the coast full because all the storage capacity is taken.
Oil should have never gone up to $147/barrel. There was no shortage just speculators driving up the market. A lot of those speculators lost their shirts and won't be as likely to pile in again!
The sad part of low oil prices is it sends the wrong signal to the business. Exploration and developement stops, thus creating a real shortage somewhere down the road when the economy gets going again. I can see a real shortage in about two years with record breaking prices. Or maybe Obama will have us all driving windmills or something?
Oil should have never gone up to $147/barrel. There was no shortage just speculators driving up the market. A lot of those speculators lost their shirts and won't be as likely to pile in again!
The sad part of low oil prices is it sends the wrong signal to the business. Exploration and developement stops, thus creating a real shortage somewhere down the road when the economy gets going again. I can see a real shortage in about two years with record breaking prices. Or maybe Obama will have us all driving windmills or something?