jim "sjedgingN0Sp"@m@mwt,net wrote:
Last Post wrote:

The high price of oil in the past few years was
created by speculators that gambled that there would
be a shortage, and encouraged by the Saudi OPEC
honcho, boosted the futures market.

The high price of oil was caused by oil consumers who are suffering
from a social disorder. Consumers have become completely unable to
regulate their consumption. That is one of the symptoms of a
bingeing disorder.

Wrong. The high price of oil is caused by SPECULATIVE TRADING.
http://www.globalresearch.ca/index.php?context=va&aid=8878
http://www.nytimes.com/2009/07/08/business/08cftc.html?_r=1&hp

The "real" oil price is under US$40/bbl ... If it were sustained any
higher, then alternative sources of oil become financially viable.

Oil from shale is viable at less than US$60/bbl ... if the price is
sustained and at that level due to real world (non-speculative)
market forces.

"Oil" from coal is viable at (probably much) less than US$100/bbl.
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