[expat_panama]

"...price of oil and gasoline is not now based upon supply and demand it is driven by speculation..."

That's what the article said and lots of people feel that way --that the futures speculators are wrong about where prices are going.  If you know you're right then you can step up and restore sanity, and get rich doing it. 

You can correct prices that you consider foolish by making your own market offers.  I did it a few years ago --I bought oil companies and refineries during a price jump and as it peaked I made a bundle.   I'm not in right now though, imho these days it's the futures traders who're right and it's the pundits who're full of it, but hey go for it and let us know how it works out.

[SAJ]

If I had to wager (fortunately, I **don't** have to...), it would be that crude would be higher in 6 months' time. The funds or big specs or whatever you want to call them invariably overdo things to the upside.

Thanks again for your time yesterday, Pete!