Submitted by Living Off Dividends, Oct 25, 2007 02:02

the last time oil rallied to $75, it crashed back down to $49.

This time its rallied up to $88, so i'll correct and maybe head down to $60. The long term trend is still up.

Anyone who thinks there isn't a shortage of oil is growing senile. There are 3 billion people in China and India who used to travel by cycle and motorcyles who are on their way to buying a gas guzzling car. It might take another 15 years, but the number of people driving cars will probably go up 10 fold.

If there wasn't a shortage of oil, the price wouldn't be trending up. That just sounds like an analyst who's banking customers want to establish a large position and it trying the scare the market into selling at a lower price.

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