Oil prices ready to drop?
Many opinions about this. We certainly have an oil bubble, and those who are speculating will be hurt most when oil drops. But a drop will likely be short-lived and not too severe (unless we start seeing large-country / world-wide depression - then all bets are off.) Short of that, for the long term (due to the many factors described in this blog - not the least of which is simple supply & demand), the price of oil will continue to rise. Another opinion: U.S. News article by James Pethokoukis.
Labels: Supply and Demand