GREY:ROAOF - Post by User
Comment by
Box927on Oct 03, 2006 8:34pm
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Post# 11457268
RE: oil will continue to crash to 30-35$ range
RE: oil will continue to crash to 30-35$ rangeI read a lot of posts on different boards as to where the price of oil is headed. So I thought I would add my two bits worth.
I will not pretend to know what the price will be in the near term as I can not predict the weather. All the bad weather that was predicted by the weather expects for the Gulf of Mexico region did not happen. So if the so called experts can get it wrong I won't even try.
But one thing I do know is the world is still going through 84 million bopd and the Chinese and Indian economies are still chugging along from what I read. Another thing I do know is that the world is not replacing reserves which can produce the 84 million that is being used. Plus I do not know anyone who has stopped or even slowed down driving their car. I know I haven't. So IMHO the long term price of oil is only headed one way and that is up.
Regards