also if you go back further to where i say the bear started
oil was 100 in oct of 2007 now 115
while dow was 14000 its now 11700
i could see oil longer term just chopping sideways as equities markets continue to grind lower
not overly convinced on my deflation thing as the rest of the world like china, india etc still growing pretty fast gdp wise (so sucking more oil) for now albeit at a slower pace than recent past
main question is how all this effects the world at large that will determine how much if any oil falls over the long haul
US the near term future is pretty clear less oil consumption along with lower consumption in all aspects of the economy as a whole with a flat to down GDP
oil was 100 in oct of 2007 now 115
while dow was 14000 its now 11700
i could see oil longer term just chopping sideways as equities markets continue to grind lower
not overly convinced on my deflation thing as the rest of the world like china, india etc still growing pretty fast gdp wise (so sucking more oil) for now albeit at a slower pace than recent past
main question is how all this effects the world at large that will determine how much if any oil falls over the long haul
US the near term future is pretty clear less oil consumption along with lower consumption in all aspects of the economy as a whole with a flat to down GDP