Comment 27960

By RstJ (anonymous) | Posted December 21, 2008 at 00:57:38

Don't think so. No supply/demand curve could possibly have accounted for the rise and fall of oil prices in 2008. This is a speculative bubble, same as in real estate. But that one only knocked out some poorly run companies like Countrywide. The oil future crisis took out most of Wall Street.

Prices aren't going to soar again because the speculators who ran them up in the first place have all gone bust. Anyone foolish enough to listen to oil "experts" deserved to lose their cash.


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