Comments on: Is Oil the New Yahoo: Oil’s Run May Be Done

By: Oil Hits New Highs… But Could Its Run Be Done?

Oil Hits New Highs… But Could Its Run Be Done? — Mon, 03 Nov 2008 17:45:35 +0000

[...] Source: Is Oil the New Yahoo: Oil’s Run May Be Done addthis_url = 'http%3A%2F%2Fdev.contrarianprofits.com%2Farticles%2Foil-hits-new-highs-but-could-its-run-be-done%2F3318'; addthis_title = 'Oil+Hits+New+Highs%26%238230%3B+But+Could+Its+Run+Be+Done%3F'; addthis_pub = ''; Tags: Crude Oil Prices, Dan Denning, Investing In Oil, YHOO By Dan Denning [...]

By: Tom

Tom — Tue, 15 Jul 2008 14:35:41 +0000

The sea also has some new oil resources. But in the next two centuries we have to find an other alternative to oil. I think hydrogen fuel cell is best. We can not get around it!

By: Merv Nash

Merv Nash — Mon, 30 Jun 2008 01:04:01 +0000

You are all wrong.
There's plenty of oil yet still to come. Saudi is only getting started to deliver their reserves:
http://biz.yahoo.com/ap/080629/saudi_giant_oil_field.html
and Canada has trillions of barrels in the Tar Sands that everybody has been screaming about.
What's your problem? A bit of a price hike for a couple of years while Saudi and Canada raise the funds (seeing the banks are broke) to pay for the equipment to get it to market.
Have a nice day

By: beyondtool

beyondtool — Sat, 28 Jun 2008 13:08:02 +0000

I don't think it's time yet to count chickens. Oil has a long way to go before prices stabilize. It's a key resource and there ain't enough of it to go around. $2 a liter in Australia is still cheap.

By: Karl

Karl — Fri, 27 Jun 2008 22:46:28 +0000

You have to ask the question, how much of the price increase in oil is purely because of the devaluing of the currency its priced in? If you take that away, how much has oil really increased in value? I remember a discussion pricing oil in gold and there wasn't much of an increase, but that was several months ago.

If any small excuse will cause oil to rise, conversely will any small excuse cause the dollar to fall?

By: Curt

Curt — Fri, 27 Jun 2008 18:55:59 +0000

You're probably right. I don't see oil going much higher this year, but it could reach 200 in the next few years if the fed continues their craze monetary policy.

By: Smack MacDougal

Smack MacDougal — Fri, 27 Jun 2008 18:24:21 +0000

Exactly how has "The market has ceased to be rational about it."?

Folks who buy futures contracts long do so because they cannot find alternative places to bet their cash for long bets.

Stock Exchange casinos seem to be crashing (less money coming in than going out) everywhere -- the US, China.

U.S. Treasury yields don't pay.

Oil seems to be a life-blood for an electrified, motorized world. Large-scale substitution effect has yet to materialize.

The Global Glut of Money in Circulation relative to New Commerical Credit must go somewhere and it seems to be pouring into oil, foodstuffs -- the life-sustaining materials.

Folks who play Futures Markets, such as NYMEX contracts, don't bet on spot, they bet on future.

Until new places for money arise -- new capital (selling money down now for right to collect a future stream of money) for sale, no man should expect to see a drop in Life-Sustaining Commodities (oil, foodstuff), especially since oil and foodstuffs exist in a positive feedback loop.