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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: buckbldr who wrote (41483)	4/7/2005 12:38:45 PM
From: SliderOnTheBlack	Read Replies (3) \| Respond to of 206325

re CWEI commentary {"As I said before, 2 years ago we had full storage and $25-$30 oil. Now, we have full storage and $55 oil. Obviously, full storage is not holding back higher pricing. JMHO."] ...wrong line of thinking. US Dollar currency collapsing against the Euro is the primary reason the Price of Crude Oil has ramped in US Dollar terms. The most recent Catalyst for this 2005 rally is Speculation in the Crude Oil Futures Markets...ie: the historic 5 Fold increase in Long Specs just from the 1st of the year. "WHY" that speculation exists...is yet another subject. Let the US Dollar reverse it's slide against the Euro...and if Storage Levels remain the same = collapsing crude prices. US is rapidly raising Interest Rates. Euro Zone is not. ...if only the US could control spending ~ China's cracking banking system & economy is the ticking time bomb.