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Politics : Welcome to Slider's Dugout -- Ignore unavailable to you. Want to Upgrade?

To: ItsAllCyclical who wrote (8026)	2/24/2008 9:12:52 PM
From: ChanceIs	Respond to of 50340

>>>it's the last bubble left.<<< Bingo. I might go on to add that we are at the 10th anniversary of $10 oil. Back then we had the perfect storm: 1) SE Asian and Thai bhat collapse - dropping crude demand in SE Asia, 2) Russian currency collapse - massive Russian exports for hard currency, 3) OPEC earlier increase to satisfy SE Asian growth - which collapsed under #1 above, 4) Series of warm winters and cold summers, and 5) Clinton brought Iraq back on line. You guys and gals remember all this from when Slider hung out on the Strictly Drilling thread. The Economist Magazine was pitching $5 crude. There was a fleet of loaded super tankers anchored in the Straits of Magellan because all of the land based storage was full. Crude then rose from $10 in December 1998 to $37 in August 2000 so that Al Gore released the SPR to buy the election. So maybe its just the idiots on Wall Street thinking that crude is in for its requisite 10 year rally.