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Frank Schnittger:
I must be the only one here who thinks that Oil prices may actually go DOWN in the next couple of years because of the fact that poorer economies will simply collapse at current price levels.

Ummm... yes, but down in relation to what?

I think that we may already be seeing the beginning of oil becoming the de facto global reserve currency.

by ChrisCook (cojockathotmaildotcom) on Wed Apr 2nd, 2008 at 12:20:23 PM EST
[ Parent ]
Back down to c. $70-100 - no where near $20 obviously - and not enough to discredit peak oil discourse in the popular media as Colman fears.  However if it does become the reserve currency, and it keeps getting scarcer, and subject to ongoing large scale speculation, then it could also become an even more volatile commodity.

"It's a mystery to me - the game commences, For the usual fee - plus expenses, Confidential information - it's in my diary..."
by Frank Schnittger (mail Frankschnittger at hot dotty communists) on Wed Apr 2nd, 2008 at 12:59:33 PM EST
[ Parent ]

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