A Car Guy's Take on Global Warming.
Reply #48 –
Oil prices are going to crash eventually. The shorts are going to make a killing! I wish I had some money to short oil futures because the oil price chart looks like a bubble that's getting ready to burst. My theory is that market speculation is driving the price more than actual demand at this point. I suspect alot of it is short covering but once the shorts get it right they're gonna pound that price into the ground to the point that the long contract holders are gonna have to bail and the price will probably over correct to the down side. Which will be great for the end user.
All that's lacking for this to happen is a catalyst... Such as a new large oil discovery, tapping into an older one (ND) or ambiotic oil (deep earth, not fossil).
I could be wrong or way off but that's how I see it and if I had some cash I'd be putting money on it too!