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To: Toddsterpatriot
The recent retreat in oil prices reflects only a small pinhole in the oil bubble. Fundamentally, oil prices should be in the high $20-a-barrel range today, based on supply/demand economics and current inventory levels. Eventually, the barrel price should decline to the low $20s as oil inventories continue to build.

Am I missing something here?? This guy says oil is going to drop another $20 a barrel?? C'mon...

11 posted on 11/30/2004 7:39:39 AM PST by SoFloFreeper
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To: SoFloFreeper
"Am I missing something here?? This guy says oil is going to drop another $20 a barrel?? C'mon..."

I believe the price spikes, more than anything else, were generated by the commodity traders. When the calls start coming due, the price will tumble.

Demand has not risen to justify the price increase. Some, yes. Almost triple, no.
17 posted on 11/30/2004 7:53:25 AM PST by Clay Moore
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To: SoFloFreeper
Am I missing something here?? This guy says oil is going to drop another $20 a barrel?? C'mon...

It was in the $10 range in the late '80s.

23 posted on 11/30/2004 8:09:34 AM PST by Toddsterpatriot (Protectionists give me the Willies!!!)
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