[Newsbot]

Title: Oil price 'a bubble waiting to burst'
Category: Business
Posted By: Hyack
Date: 2008-05-25 12:32:16
Canadian

[spikereli]

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..

[Toro]

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.

[Benoit]

Instable oil price discourages investments projects.