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Politics : View from the Center and Left -- Ignore unavailable to you. Want to Upgrade?

To: Bearcatbob who wrote (70752)	6/5/2008 3:11:56 AM
From: Cogito	Respond to of 543044

>>Market bubble - c'mon - of course there is. Oil bubble now possibility - of course - I have told you I am long DUG. The issue is what is the current market price. I bet it was not $135. I would not bet against $110. Watch the far out future prices for what the smart money thinks. I would say any price north of $90 is a huge market equilibrium change.<< Bob - I'm so pleased that you agree that oil prices are the not the result of supply and demand only. I agree that with increased costs of production, a much weaker dollar, and falling output from Russia, the North Sea, and Venezuela, only partially balanced by increasing output elsewhere, oil would be up right now over last year in any case. Amazing. We agree. We've both moved just a little. I was just going to push a little with another paragraph here, to see if I could make more headway, but I think I'll just leave it alone for now. I'm tired, and this is good enough for today. - Alllen