Thursday, July 03, 2008

Oil prices ready to drop?

Many opinions about this. We certainly have an oil bubble, and those who are speculating will be hurt most when oil drops. But a drop will likely be short-lived and not too severe (unless we start seeing large-country / world-wide depression - then all bets are off.) Short of that, for the long term (due to the many factors described in this blog - not the least of which is simple supply & demand), the price of oil will continue to rise. Another opinion: U.S. News article by James Pethokoukis.



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