Yes but I have been saying this for months. I watch futures and refinery output. Here is a gold bug that agrees with me:
Tuesday, May 11, 2004, 7:37:00 PM EST
Oil Reaches 13-Year High
Author: Jim Sinclair
The last time oil reached $40 per barrel you could hardly blink before it was back under $30. There is no comparison between the price action then and the situation today. This is the real thing and Monty’s $55 forecast for oil is probably coming a lot sooner than "long term."
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