Quote:
Originally Posted by italkcash
Funny to see how the oil in just a short time (since my last post) has risen a huge leap! Today as I write this it has hit 141$ per barrel, an investment worth it since the last post. It seems more and more that oil will reach 150$ a barrel in the coming next weeks, if not this week even! Stay tuned.
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It will continue to rise for the fact that
1. production of oil has hit a wall as production has come to a point of diminishing returns
2. the supply of oil can't really be increased like what the oil cartel claimed as there have never been any new oilfields set up since , 1980's?
3. The demand for oil is inelastic as there are few substitues for oil.
