RE:Election yearit is much worse than that,.. much worse. it you really look at REAL inflation, real price inflation like food, housing, gasoline, taxes, education,.. instead of that fake "core" inflation. price of oil is close to being free and we lose money not just on investment, but on big inflation.
Very frustrating for sure. .
The fact is, the need for oil as expanding big time. 40 years ago,.. you only had western europe and Americas that were realy using oil, but nowadays we have Eastern Europe, China and India, Africa and south america in big need for oil. China went from zero cars on the road to 420 million, if just a few decades. Same thing will happen with India.
Anschutz wrote: The games being played with WTI are ridiculous. Last November or December I looked at the price of WTI since 1996, comparing US election years with non-election years. It showed that the price of WTI rises and peaks in spring, then declines steadily into November.
Since January the pattern has been pretty much spot on, although slightly accelerated by about a month. If the trend continues to play out, we could be looking at $60 WTI with a projected low of $57 by November. Perhaps other macro and global events will prevent, however that's the way I'm playing it. Looking at the chart since April, there's no denying we're in a down trend.