oil price: The Psychology of $140 Barrel Oil
- 07/02/08 03:22 PM
It's well documented - with every passing day, oil prices seem to be setting a new record. With the triple combo of an ever weakening dollar, insatiable demand in emerging markets, and the "speculation factor" from hedge funds and the like, many project there is no end in site to the price escalation. While a recent conversation I had with an executive in a major domestic oil company revealed that the "industry insider" opinion is oil should be priced somewhere in the $70 a barrel range right now, I have a feeling that we are still far from seeing the top of this "super … (1 comments)
It's well documented - with every passing day, oil prices seem to be setting a new record. With the triple combo of an ever weakening dollar, insatiable demand in emerging markets, and the "speculation factor" from hedge funds and the like, many project there is no end in site to the price escalation. While a recent conversation I had with an executive in a major domestic oil company revealed that the "industry insider" opinion is oil should be priced somewhere in the $70 a barrel range right now, I have a feeling that we are still far from seeing the top of this "super … (1 comments)
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