If anyone thinks that OPEC will let any other form of energy take the place of oil. Oil is like a goose laying a golden egg everyday. They can kill ADM in one day by pulling the price of oil down below the cost of ethanol production. Easy game.
The real issue is ...when we start running out of oil, the price will go up as the demand goes down.
For now, price goes up based on ficticious events. ADM is a road kill waiting to happen.
I have to give them credit though for playing the oil crisis to make a pretty penny.
So, when will oil go down? I think we will see the faith of oil over the next several weeks.
And that goose may just keep on performing for the rest of the world, China, India etc. Fact is, the US dollar must devalue for anumber of reasons. This will lead to nominally high prices in $ for everybody and real high prices for us.