Comments on: Net spec longs in crude reach record high

By: insaneclownposse

insaneclownposse — Sun, 17 Jan 2010 18:46:53 +0000

@alfred e

the production cost of oil for the producers on the margin is $50 a barrel. Oil at $80 is not a stretch. Additionally, the oil producers are net short. If there aren’t any speculators, who will take the other side of the trade for producers who want to get short?

the supply of cheap oil is finite. get used to the fact it is getting more expensive.

By: alfred e

alfred e — Sat, 16 Jan 2010 16:08:49 +0000

Speculation in important commodities such as crude should be highly regulated lest our wonderful elites continue their immoral and corrupt raping of the sheeple. The current mechanics are not supply and demand in fair markets.

By: DL

DL — Sat, 16 Jan 2010 07:00:19 +0000

If the S&P corrects 5-7%, which it surely will soon, it’ll pull down oil with it; some of the speculative longs will get shaken out.

Nevertheless, I think crude oil will get to $150 within 2.5 years.