Thursday, June 26, 2008

OPEC: Oil to Reach $170 This Summer!

If the OPEC ministers genuinely believe that the price of crude oil is being driving higher by speculators, who better to use their limitless trillions of Dollars of oil wealth to short the market and teach the speculators a lesson by forcing prices down? Perhaps the conviction of OPEC oil ministers isn't as sincere as they would have us all think! Prices have risen today, and have reached just $1.40 off record highs from the past two weeks.

Today, OPEC may have revealed its true belief when OPEC chief Chalib Khelil tipped his hand and said that he expects the price of crude oil to reach $170/barrel this summer. Hey, it's summer now, Mr. Khelil!