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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: Slagle who wrote (67043)	8/7/2005 2:18:34 AM
From: elmatador	Read Replies (1) \| Respond to of 74559

If oil (or anything) increase in price it is a problem if you can't afford. That's why there is no recession for very expensive items. For those price is not an objection. If you can afford, price can go up, a few bucks more won;t make much difference. I think that relative to the income per capita today oil is dirty cheap. The only way to jack up its price is to burn a refinery in like it was done inTexas (twice), give a few bucks to Nigerians to strike or high jack a couple of engineers. Then you keep one of the biggest oil reserves in the world out of the market since 1991. Then you keep another big producer (Iran) out of its real potentila due to an embargo and we have oil at USD60. Now if we really had an fuel problem, people would be investing gazillions in ethanol. In 1973 Europeans discovered that high oil prices were not a problem if you could export like crazy to those OPEC countries. Just dum your exports there and get the money back! I started my international career getting dollars back from OPEC Nigeria in 1983.