Today oil analysts told American political leaders that regulating oil speculation could easily cut half the price of crude oil, within thirty days. Wow! They even speculated that gasoline could drop back to $2 per gallon. Forget those hybrid cars and plug-in electrics, Martha, get me that Lamborghini for my birthday.
We can be assured that the current regulatory and speculatory market for crude oil and other commodities will be in place until at least January, 2009. With a new American President, all commodity bets become mere speculation.
Testifying before a Congressional committee today financial market analysts said the crude oil price would almost immediately plummet and could lose half its current value if anti-speculation rules were put in place. $65 per barrel for crude, sounds almost like a bargain today doesn't it? Those analysts said fund managers would almost immediately start liquidating their positions in the face of regulatory limits and that would halve the crude oil price.
That would sure make solar power and wind power and plug-in cars look a whole lot less economical really fast. Might even drop the value of a bushel of corn a wee bit, you think?