News, Uh-oh: Gas prices on the rise.

[Oildog]

I'm not sure oil will stay where it is for long. I think it will hover $35-$45/bbl for a quarter or so, then move up to $60-70 range. I don't think we will see oil north of $100 for a year or so...much of that was fueled by Wall Street and they are still getting their hands slapped. Full disclosure I am long USO and DXO as of this week.

[GloryB]

Originally Posted by Oildog

I'm not sure oil will stay where it is for long. I think it will hover $35-$45/bbl for a quarter or so, then move up to $60-70 range. I don't think we will see oil north of $100 for a year or so...much of that was fueled by Wall Street and they are still getting their hands slapped. Full disclosure I am long USO and DXO as of this week.

I had someone else who works in the oil industry tell me the same thing. It is nice to hear some confident words.

[jimboburnsy]

Originally Posted by Oildog

I'm not sure oil will stay where it is for long. I think it will hover $35-$45/bbl for a quarter or so, then move up to $60-70 range. I don't think we will see oil north of $100 for a year or so...much of that was fueled by Wall Street and they are still getting their hands slapped. Full disclosure I am long USO and DXO as of this week.

OD, I really hope that is correct. Oil stabilizing in the $65-75 range is the best possible scenario.

That's cheap enough to keep from killing transportation industries and significantly harming most individual motorists, more than adequate for the energy sector to flourish without over cooking exploration/drilling but still expensive enough to promote conscientious investment and development in alternative fuels and power sources. About as win-win as it can get. But...

...how often does the best possible scenario ever come to pass?



EDIT: I'm not very savvy about commodities/futures trading; can you explain to me how it is that double return oil works? I don't invest unless I understand it and I want to invest.