Replies to post #4672 on PEAK OIL - EPOCHAL EVENT OF OUR LIVES

[zsvq1p]

Lendsey William kinda a nut ball... He just happens to be on right side of things.

So I do think Oil and Gas continues down trends for the remaining year and maybe into next year.

Why? personally thinking speculators and OPEC drove the prices to the point that demand started to drop significantly. OPEC can control supply but cannot control demand nor speculators. It, no doubt, in my mind was a bubble.

We are now stuck in, and continue, into slow down economic spiral... That has no quick fix cause nobody can refi and fewer can get business loans right now...

OPEC has the problem now...
- Car companies have committed to switching to higher MPG cars
- Hybrids and plug in Hybrids
- US people are demanding off foreign oil.. Really meaning they are tired of all those frick'n turban nut heads. Tired of sending kids over there. The soldiers are tired too.
- OPEC knows what the Oil Sands and Alaska may bring
- OPEC knows the US is on the verge of one Political signature from lost future. Can you imagine if Congress says 50 mpg in 10 years?

I think OPEC needs to continue high supply for awhile to gain the confidence of the consuming nations.

But who the heck really knows.. We are all just lemmings in life...