Oil - The never ending scam‏

http://www.reuters.com/article/2011/03/09/us-markets-global-idUSTRE71H0EB20110309

Oil is going up and up and up and up because everyone is sooooo concerned about the 2% worlds supply coming out of Libya. How will they ever make up that 2%.

What is even more appalling is predictions for Oil back in December were they would keep going up. Back in December there was nothing going in in Libya or Egypt. It was all quiet and yet everyone had prices skyrocketing. ("Everyone" being the masters of the universe at Goldman Sachs and JP Morgan)

http://www.liveoilprices.co.uk/oil/oil_prices/12/2010/oil-price-forecast-for-2011-will-oil-hit-150-by-summer.html

"Goldman Sachs, JP Morgan and other large banks are forecasting higher oil prices in 2011. In fact, it’s hard to find any trader or analyst that expects oil prices to head lower anytime soon."

"Our point of view is that oil futures will remain bullish and may well see $100 a barrel in the first trading week of January 2011. Shocking that over $100 is exactly what has happened.
Libya is just a nice excuse. If it wasn't Libya it would be some other totally unbelievable excuse.
The worst part is that prices are over $100.00 even though supplies are at a record.

So when supply is high, and prices are also high you can be sure the whole thing is bullsh*t.

http://www.bloomberg.com/news/2011-03-09/brent-crude-for-april-rises-on-libya-concern-merrill-lifts-price-forecast.html

"Cushing supplies climbed 1.69 million barrels to 40.3 million last week, the highest level since the Energy Department began gathering data at the hub"