Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: BubbaFred who wrote (56554)	11/27/2004 1:56:59 PM
From: Taikun	Read Replies (2) of 74559

BF, Peak oil has either arrived or is around the corner. It is a long term trend. In any trend there will be retracements as the market gets adjusted to the new 'clearing price' Is $50 or so the 'floor' for the forseeable future? Is is too high if we get global recession (I think so)? Is it too high once new Saudi fields come onstream, which will add to supply in the S-T (I think so). One counter argument, that the continual USD weakness drives up the USD WTI price, is also valid. I'm not sure, but I'm sure there will be dips down the road. Buy the dips! David

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