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Could oil mania be coming to an end?

Discussion in 'The Economy' started by Tropo, 1st May, 2008.

  1. Tropo

    Tropo Well-Known Member

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    Could it be that the commodity speculation will now also reverse?
    Nobody can say for sure, but one way to try to understand speculative markets is to use the psychological techniques of following price charts, known as “technical analysis”.
    This is ridiculed by economists but regarded with respect by most professional investors.

    Could oil mania be coming to an end? | Anatole Kaletsky - Times Online
     
  2. Billv

    Billv Getting there

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    I wish....
     
  3. AsxBroker

    AsxBroker Well-Known Member

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    Like BV.
    I highly doubt that oil prices are going to drop.
    OPEC charge the amounts they do because they can.

    Cheers,

    Dan
     
  4. Billv

    Billv Getting there

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    Dan,
    I guess it also has to do with the current value of the US$
    as the $ starts to go up the price of petrol should be coming down.
    Cheers
     
  5. Tropo

    Tropo Well-Known Member

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    Adjusted for inflation in January 2007 dollars the 1979 $38 peak is the equivalent of paying $104.06 today.

    Inflation Adjusted Crude Oil Prices Chart
     
  6. Billv

    Billv Getting there

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    We probably need those peaks or we wouldn't bother to look into alternative fuel options.
    I guess the oil companies are shooting themselves in the foot by increasing prices because people buy smaller car & hybrids and fuel consumption is going to drop.