Greenspan is an idiot. He allowed the free markets to run without any constraints. He believed the markets don't need any restraints since they know how to run their business. Single handedly created the huge bubbles we are still trying to recover from.
I wouldn't exactly trust his advice.
As for the market: Oil is forming a wedge. it either breaks out on the upside or down. Below 55 and its down, above 58 and its up. OPEC certainly doesn't think Oil will reach 80 anytime soon. A great political move to defer the fact that they are allowing OIL to settle on its own. they hope to gain back their position, but its way too late now.
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