Friday, June 5, 2009

Oil be Crazy

AlphaNinja - As noted the other day here, Texas Tea is up about 137% from its 2009 lows. It will be ripe for a short-selling trade at some point this year, but only when it trades at total extremes (>$100).

EIA data below on demand projections. They're likely too high, as the recent oil shock resulted in PERMANENT destruction of demand. Whether that's correct or not, look at the 2015 projection of 98million barrels per day. That's only up 26% from 1998, even as the developing world has embraced our oil-guzzling habits with a vengeance. Hmm maybe it's NOT a high estimate.

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