Oil price 'a bubble waiting to burst'

Business | 504 hits | May 25 12:32 pm | Posted by: Hyack

DESPITE all the gloom, oil prices are predicted to fall 30 per cent within 12 months, giving motorists much-needed relief.

by spikereli
Mon May 26, 2008 7:57 am
well well well, i think maybe perhaps reality is going to kick in,,abiotic oil theroy....i cannot wait until governments pull out of opec... Quebec isnt in the oil propaganda thing....lets make small profits over a long time,,, like a good investment,,, rather than pulling the cash out of decent money that could be for canadian industry,,,I hate the fact that only in canada in alberta that we have 87 rigs running out of 950 that are not producing oil... i think all the dumb engineers have everthing dooped here..
by Toro
Mon May 26, 2008 5:45 pm
I do agree that oil is bubble-like, and that the fundamental price is far below where it is today. However, I wouldn't pay any attention to what economists forecast.

These things tend to run a lot further for a lot longer than people generally think. $200 is very possible before this thing bursts.
by Benoit
Mon May 26, 2008 5:50 pm
Instable oil price discourages investments projects.