It is easy to say oil will be up , it is also easy to say it will be down big time, especially with Global Recessions which are taking place along with deflations. The problem is that Oil Bulls have had the glory of speculating in oil for the past decade plus and they know not what happens when a Deflationary period starts with nations going into recessions again. You can name any nation on the planet and they are reeling from recessions, or deflation. No commodity bull can justify why. Today the entire Middle East and every OPEC nation will pay the price for destroying nations economies with PEAK OIL of $147.00 a barrel. Todays problem stems from wages which haven't kept up with people able to eat and pay their bills. Food cost and materials costs have killed every recovery since 2008. Nations debts are destroying everything. I hope some of you might realize that without nations recovery, commodities will never go up. Bear commodity markets are killers to investors, speculators and nations economies.
You speculators will pay the price for the Peak oil of $147.00 a barrel. Saudi's must pump lots of oil to fund their wars. This is first time in history that OPEC nations are at wars and they must pump lots of oil to be abled to afford to feed their nations . America and the world have paid OPEC and Wall Street for Decades and now Saudi's must confront their own wars and also pay high price for food which high oil prices created. It is also the first time in the new world that 27 nations in Europe are drowning in debts, US is swimming in debts, China, Australia, Mexico, Russia, Canada, Caribbean, and and every nation on earth are in recessions simultaneously. Every nation are in convultions, and their economic engine have been destroyed by OPEC and Wall Street. As it stands today, payback is a mf.
Its no secret at what China's Housing Bubble, fraud, bribes and an internal collapse of Chinese lies and deceit. It has been building for over 9 years. Yep, it was China that caused commodities to be inflated when China was spending recklessly in 2005 - present. What went up is coming down now and watch out underneath.
Make no mistake, US and every nation in Europe and Middle East will feel the pains if Oil and food prices doesn't start falling. Every nation Globally are stressed to the max. As of today, the entire Middle East is at war for the first time in history. US and Canada are the only two Western nations which are stable. China, Russia, all 28 nations in Europe , every Middle East nation and Russia are bleeding from their noses and asres. Go figure out what will happen in Middle East and Russia in coming weeks and months .
There is no future for oil going up and here is why. Too many nations are pumping out oil to survive economically, US and Chinese are filling up their SPR'S and hundreds of ships with oil sitting out at sea. Add to that US is finally resuming frack drilling in shales since oil have stabilized. Many new oil finds in Mexico, Honduras and even Cuba. The oil game is over and Saudi's knows it. Russia and Saudis will be fighting for markets . China is not going to prosper economically with US made goods. Market for China have closed up and the 28 nations in Europe will just end up making their own. The hype of Economic growth is OVER and Wall Street big Guns knows it. Yep, Goldman and everyone else , even Morgan Stanley knows it.