[peeker01]

You consider that price action to be an "overshoot"? That's criminality in my book. God knows
how many pension funds get clipped when that happens.

[peeker01]

So neither you, nor cog is willing to answer my question.

[americandream]

There is a lot of truth to the notion that the price hikes have been driven by speculation. Speculation on the part of globalist capital (which is a worldwide grouping that includes interests on every continent, especially in those two new drivers of accumulation, India and China) that resourcing was not transparent enough, held as a lot of the reserves were and are, in the hands of resourcing nationalists such as Ghadaffi (Saddam was an early casualty of that concern), Chavez and all the other resource nationalists worldwide....either too idealistic or stupid to fully co-operate with the internationalisation of capital. Chavez I would term the idealist, Ghadaffi was just plain old stupid. You would have to be, believing that socialism and Islam are capable of being blended.

With resources increasingly falling into the hands of international capital which needs certainty as they prise open the surplus in Asia, I suspect we will see some sort of stability return to the market (speculative volatilty is here to stay, but of the ranging kind) and the onset of the next bubble. All of this does not suggest that the ponzi scheme is destined to run on ad infinitum. Just that it has bought and is buying another breathing space or cycle.

[Outcast_Searcher]

$this->bbcode_second_pass_quote('peeker01', '
')Since there has been a 26% decrease in crude prices in the past few months, demand should
have changed substantially. Has it?

[ralfy]

Ultimately, there are two problems: financial speculation brought about by debt-ridden economic systems, and increasing energy demand hitting a production ceiling leading to recession.