Tuesday, October 24, 2006

Oil Prices, Next Steps Higher?

As the election nears, big oil needs to prepare the populace for rising gas prices. Their third quarter earnings Republican election sacrifice needs to end soon. How will they get prices beginning to move in the other direction?

Earlier they stated an offline production facility’s longer than necessary repair from Katrina damage would send prices upwards. After reasonable people laughed this off, they came back with an expert industry opinion.

The oil market is "nearing the exhaustion of its immediate-term downtrend," said Citigroup analyst Tim Evans.

Post November 7th, what will happen to oil and gas prices? Will they bounce off the floor? And post January 1, when America or its proxy bombs Iranian nuclear facilities, what will they do? Will they go through the roof?

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