Quote:
Originally posted by JohnnyO@Aug 3 2004, 06:25 PM
Barring no terrorist attacks I think the prices have peaked and should come down to high $30's low $40's as Russia gets back on track. The Saudis can turn on the tap if they want to and exploration will be higher with this price level.
How does that sound? I have no idea, and very few actually do. The Oil Sands are looking like a pretty good investment if you ask me.
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Coincidentally, an excellent article below looking at "why oil prices are so high."
It also cites demand from China and India as an unexpected variable in this cycle. It mentions that OPEC is reaching its maximum production capacity. More production might require more infrastructure.
http://edition.cnn.com/2004/BUSINESS/08/03...reut/index.html
Cowperson