Big Dog's Boom Boom Room Message Board

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Gold/Mining/Energy : Big Dog's Boom Boom Room

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From: upanddown	5/17/2008 5:44:42 PM
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It was rather sad for Bush to have to go to our Saudi "friends", hat in hand, to beg for more oil. I do believe that there is a massive amount of financial speculation in oil futures that has little connection to market fundamentals and that most of the major players are just trading paper oil and have no interest in buying or selling physical oil. Bush should have asked the Saudis to use their incredibly deep pockets to massively intervene on the short side of oil futures. They could force down prices while taking billions from the longs. They would also score major brownie points with their "friends" in the west. If the major longs realize the game is up, the exit door could get very narrow...very fast. Does anyone here share my feelings that there is major political pressure building both here and abroad to bring down oil prices? I think it is going to have its effect on prices and that it might to time to step aside for a while after a great run. JMO, John

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