The extremes hit in oil has cause reason to believe that the black gold has hit a point of over done. I think that we are in for a consolidation in price, maybe down to the $75 range. The high prices are laying on our economy and people are reconsidering how they live with this foreign invader of our wealth. We are up to $700,000,000,000 a year of our dollars fleeing the USA to places a far. And it must stop. T. Boone Pickens is offering a plan to consider in the next 10 days or so. It will include wind and natural gas to fight back with domestically produced energy. I am happy that someone with the where with all, is working on ideas to move us in the right direction. To find a direction with energy independence and freedom from foreign oil producers, who are receiving the biggest transfer of wealth ever. We need people who are committed and passionate about this country and the future of there children.
We must stay with finding a better source of energy, no matter what the cost. What ever it is it won't be greater than 700 billion dollars a year!
In the short term technical consideration are leading to a short term decline in oil prices over the next 6 months or so. Go short here at the open tomorrow. Let's not go to sleep. We most continue to put this problem away for ever.
Richard
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