by dohboi » Tue 06 Jan 2009, 11:48:23
So a nearly 100% increase in just a few weeks and again not much reaction in the press.
How often has oil nearly doubled in price in, what, three weeks?
At this rate we could be above $100 by the end of the month. Who knows what the heck. Is this the next run up before the next knock down? Should we expect ever higher highs and ever lower lows?
I've given up making guesses on any kind of short term. I still think we will see oil at an average level of:
--$120 over the next four years ('09-'13), just as it was about
--$60 on average over the period '04-'08, about
--$30 on average from '99-'03, and about
--$15 before that.
But there will be lots and lots of jumping around above and below that average, but over time always edging up.
Of course if either deflation or inflation gets really out of hand, or if the dollar just collapses and can no longer be used as a currency (none of which can be ruled out IMVHO), all bets are off.