Rogue,
The recent pullback in OG prices, not to mention my oil stocks may have been a blessing, since it probably reduced the urgency that government needs to jump in to take care of this problem for us. Talk about political public posturing at the Senate hearings! Yesterday, cold weather has just returned and I also see that NG prices are up today.
And for anyone who thinks $200 oil is ridiculous within 5 years, there's a guy from the article who is willing to make a $5000 bet with you:
..And if you think things are going to get better just because prices have fallen recently--think again. What is occurring is just a reprieve before other energy storms arrive. Prof. Michael Economides, who predicted $65 oil in the summer of 2004, is now predicting $100 oil within a year. By December Economides believes we will see $20 natural gas and $5 diesel fuel by next summer. Economides laments that his predictions of $100 oil no longer impress. On September 15th, in a speech at the Houston Petroleum Club, Matt Simmons talked about $200 oil by 2010. Simmons is so sure of his predictions that he’s willing to bet anyone $5,000 that he is right.,,
