The Ultimate Betting Forum - View Single Post - Light Sweet Crude

teamsports · 14th November 2007, 11:09

Hate roulette, you cant get enuf on.

Back to the real casino .. the stock mkt -

I have spoken to 3 oil consultants this yr, who ll tell me costs of extraction are getting lower, there is more and more of the stuff being found, and demand isnt that great anyway. Yet the price keeps going up !!

Is it speculators ?

If a recession kills off demand, (which I think unlikely - especially in an election yr), oil might retreat to under $80 .. is it really likely, we can see $100 + for a sustained period ?

I recall the head of BP, on Bloomberg some 4 mths ago, saying he thght oil would be $60 - maybe hes a total twat - but, how can they all be so wrong ?

14th November 2007, 11:09	#5 (permalink)
teamsports Gold Member Join Date: Aug 2002 Location: Somewhere hot (hopefully) Posts: 2,248	Re: Light Sweet Crude - $90.40 Hate roulette, you cant get enuf on. Back to the real casino .. the stock mkt - I have spoken to 3 oil consultants this yr, who ll tell me costs of extraction are getting lower, there is more and more of the stuff being found, and demand isnt that great anyway. Yet the price keeps going up !! Is it speculators ? If a recession kills off demand, (which I think unlikely - especially in an election yr), oil might retreat to under $80 .. is it really likely, we can see $100 + for a sustained period ? I recall the head of BP, on Bloomberg some 4 mths ago, saying he thght oil would be $60 - maybe hes a total twat - but, how can they all be so wrong ?