by burtonridr » Wed 03 Sep 2008, 13:47:25
$this->bbcode_second_pass_quote('VMarcHart', 'B')ack at the Memorial Day weekend, I was predicting oil would hit $200 by Labor Day. I guess I need to face up and eat my words. Am I alone?
I figured it might be slightly inflated because of speculation... it just happens when you get lots of media attention. However, we all know the low prices wont last, in the end the laws of supply and demand win.
BTW I'm pretty sure we will easily break $200 per barrel next summer and $5-6 per gallon of gas. I have a feeling even as we start to sink in production rates, the prices will follow the same seasonal ups and downs. But the swings in price will be more and more volatile.