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Gold/Mining/Energy : Peak Oil - Not If but When
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From: veritas5014/15/2010 1:07:45 PM
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OPEC's next meeting is for October 2010. This late date is a sign OPEC has given up on controlling oil prices to the upside. Why increase output at $100/bbl when the price itself will eventually curtail demand? Increasing output will just add downside momentum, rather than help to sustain demand at $100/bbl. Any increase in output in the future will just be public relations, in my opinion. Not that OPEC has much spare capacity left anyway -- 2 million bbls/day?
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