Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: elmatador who wrote (50360)	5/24/2004 10:39:44 AM
From: twmoore	Read Replies (3) of 74559

I have said this before and I will say it again,the price of oil is being manipulated by OPEC.I can only speculate that it has something to do with Iraq.It wasn't long ago that OPEC said that they would maintain the price of oil at 25-30 dollars /barrel.Why have they allowed the price to rise above 40/barrels.The Saudis have stated that they want to raise the quotas by 2 million barrels/day and yet some of the other countries are resisting this rise,most notably Venezuela,which has no love for Bush. When people start to make outrageous predictions as to the price going to 60+ per barrel,that is usually a signal to me that the rise is just about over.The same can be said about the run-up in the price of gold not to long ago. PS:Where are the line-ups at the gas pumps???

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