The recent spike and fall of oil prices might appear very puzzling. If oil is peaking, how can the price drop like this? If it isn't, how can it ramp up like that?
The answer might lie in this very interesting Oil Drum post from back in May that explains this sort of price behaviour. We have entered very few periods when the world has been on the downslope of the supply curve for such an important commodity. We should expect a very wild ride.Recommend this Post
Thursday, October 23, 2008
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