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Originally Posted by Hakan
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"Influence" would be a better word and that's been the right world for thirty years.
Also, March is a long ways in the rear-view mirror for that story.
FYI, if you've been surfing the news channels lately you might have caught Bill O'Reilly in the last few weeks saying a few oil traders in a few specific markets, at the behest of oil companies, have been manipulating crude and gas prices for monumental benefit.
His theory is that more and more trading is moving away from regulated markets to markets where there is no regulatory overseer to monitor corrupt trading practices.
It was right about there that I flipped the channel and I haven't bothered to wonder if his theory holds much water.
Oil is only one commodity and most commodities have been raging along with oil and you can't really assume ALL commodity markets could be manipulated in such a fashion . . . .
I don't see oil prices tailing off in 2007 at all, but I'm interested into why you think that.
I didn't offer my opinion.
I said
"I think you might find that concensus among analysts around the world for oil in the coming year is about $53-$57 a barrel USA, with the price tailing off a bit in 2007."
By Googling and picking someone at random, it was easy to find the official verdit of Morgan Stanley, contained halfway down the link below, where he gives his justification for current higher prices and for his forecast of modestly lower prices in 2007. I think his is a fairly common opinion.
http://www.morganstanley.com/about/gsb/
Random google - Merrill Lynch - $57 in 2006 and $47 in 2007. $42 in 2008.
http://www.globeinvestor.com/servlet...oilmerrill0124
Cowperson