Oil has been rising for the past 10 years as the world has come to the understanding that there is only a limited supply and national economies are tied to it. To many people the rise in oil price is a good bet because of its limited nature. It may be possible that oil will take a dive in price as it comes close to $100 per barrel as people begin to feel uneasy.
Can The Fed Stop The Bleeding?
Surely they wouldnt let the worst happen, would they?
Predicting Oil Prices: the shortage lies in the fact.
Any numbers of energy experts—in Wall Street, in specialist trading outfits and in government bureaus throughout the world—have concluded that, since demand for oil will continue to outstrip supply, crude prices will remain on a firm-to-higher path in the foreseeable future. The problem is that hardly any statistical formulation is based on audited or established facts. Data from countries within the OPEC (Organization of Petroleum Exporting Countries) has proven to be totally unreliable. And oil consumption estimates from countries like India and China are just that, estimates.