I beat my chest my thighs and my Arm. Oil will only go up for these reasons.
I am fully bullish on oil. Obama wants oil to go up. Oil companies helped him and lowered oil prices and now he is keeping blind eye on the. They can do any cheating that can. But that is not the only reason. Obama is a pro growth presdent. Oil is in short supply. econmy is growing.
Hard to say. At one time the government of the day was okay for higher oil prices to help stem unchecked growth in demand and spur conservation. Of course then the recession hit and oil demand went down on its own, but notice oil price did not correct down in proportion. Now the government wants to have cheap oil to help restart the economy and local drilling has been encouraged etc. Regardless long term oil has to go much higher. Thnking 2013 is going to be a good year to get into oil at some point in the year, especially if weakness presents an opportunity.