Is Big Oil going to run out of gas?

Rather I believe it may be the ruthless traders at Lehman Brothers, Credit Suisse, Merrill Lynch, Goldman Sachs, UBS, CitiGroup and hedge funds who covertly and possibly in concert, create and thrive on price volatility. Their mastery at dissimulation, chimera, illusions and guile has generated record profits for Goldman, Lehman, Merrill, etc. The process of making money knows no loyalty, no country, no rules and is without conscience.

I believe oil prices will remain at this level for a good part of 2007 and we might even see oil at $50 once again this year. However, I think that $50 oil may be a floor price and I’m not enthusiastic about the stocks in the oil patch in 2007. I believe that we may become accustomed to oil at $70 to $75 a barrel for the next couple of years and perhaps watch the price head higher from there. The reason is simple as Simon: falling reserves and dwindling supplies.

suburbanchicagonews