Ok, let´s see that piece you just linked (if you linked i presume you agree with it)
Some of the reasons that are given in that article are:1) SPARE OIL PRODUCTION CAPACITY
Markets have a greater supply cushion in 2011 than they did in 2008. Analysts estimate OPEC has extra capacity of between 5-6 million barrels per day (bpd) of output it could bring on, primarily from Saudi Arabia, to cool off overheated markets, according to a Reuters poll.
Really!!! but just really???? Not according to this:
http://europe.theoildrum.com/node/68592) SPARE OIL REFINING CAPACITY
I also briefly present a recent history of OECD and Non OECD oil supplies/consumption. Based on this analysis, it is probable that demand for OPEC supplies could grow by approximately 2 Mb/d between 2010 and the end of 2011. Putting the estimated current OPEC spare capacity of 2 Mb/d together with the expected increase in demand for OPEC oil supplies of 2 Mb/d suggests that during 2011, OPEC's spare capacity may be completely eroded--a very serious situation.
Limited spare global refining capacity also helped push up prices in 2008, but since then significant extra capacity has been added in emerging markets such as India and China. In addition, U.S. refiners have capacity shut in due to low margins, which could be brought back online if needed.
Global refining capacity rose by 2.2 percent in 2009, supported by a nearly 600,000 bpd rise in India and a 800,000 bpd increase from China, according to the 2010 BP Statistical Review. (Graphic: link.reuters.com/kuc44r )
So India and China which are trying to push their economies to grow are going to use that capacity not to sustain their growing economies but for the well-being of foreign ones like the US? It is true though, that the US refiners have capacity shut http://www.reuters.com/article/idUSN14158596201007143) INVENTORIES
Crude stockpiles held by OECD countries have jumped since 2008, giving the group more padding to compensate for any supply disruption. OECD days of forward demand cover hit 60 in the third quarter of 2010, up from 53 days three years ago, as the economic crisis hit demand.
EIA: US crude inventories down 5.3 million barrels last week
Crude oil prices were higher in New York after the US Energy Information Administration said that crude stockpiles in the US fell by more than expected again last week.
The EIA said that crude oil inventories were down by 5.3 million barrels last week to 340.7 million barrels, against an expected decline of 2.4 million barrels, but stockpiles remained 6.8 percent above the five-year average.
Additionally, distillates in storage dropped by 600,000 barrels last week to 160.7 million barrels, twice the expected decline, while gasoline stockpiles added 2.4 million barrels to 217.2 million barrels, much more than the gain of 900,000 barrels expected by analysts.
The EIA also said that demand for gasoline was up 1.8 percent in the past four weeks, but that refinery activity was down slightly to 87.7 percent of available capacity
http://www.eia.doe.gov/emeu/steo/pub/contents.html4) GLOBAL DEMAND
Crude Oil and Liquid Fuels Overview. Gradual tightening in global oil markets continues to support world oil prices. Projected liquid fuels consumption growth of 2 million barrels per day (bbl/d) in 2010 is almost double the growth in supply from countries outside of the Organization of the Petroleum Exporting Countries (OPEC), which has led to rising demand for OPEC crude oil production and declining global oil inventories. While overall commercial oil inventories in the Organization for Economic Cooperation and Development (OECD) countries remain high, stock levels are unevenly distributed with some regions experiencing tightness in recent months. Both floating and reported on-shore inventories have been declining, and EIA believes that the projected continued reduction in OECD stocks over the forecast period should lend support to firming oil prices.
While global demand fell in 2008 from record highs in 2007, consumption rebounded strongly in 2010 and is expected to rise by 1.43 million bpd to a record 87.78 million bpd in 2011. Analysts polled by Reuters in December estimated demand rising to 88.6 million bpd.
See previous points, also, who are this "analysts", can we see their sources and data?5) RESOURCE NATIONALISM
Resource nationalism among oil-producing nations was on the rise in 2008, with governments cutting back supplies to increase prices, taking larger stakes in projects and revising terms for current and future projects.
Countries such as Venezuela and Russia, which were at the fore of the movement in 2008, currently are seeking greater foreign investment as part of efforts to boost oil output.
Really again? Well, one of the bigger investers in Venezuela is certainly China, but that´s is because they want the oil to power their factories and to move their vehicles, thay have been making contracts with Venezuela for several years already http://uk.reuters.com/article/idUKN0223219920101202
. Resource Natioalism as he calls it, is well and alive.
As for the russians http://www.atimes.com/atimes/Central_Asia/MA05Ag01.html
and http://www.telegraph.co.uk/sponsored/russianow/business/8239316/Russias-raw-deal-among-the-Bric-countries.html6)THE DOLLAR ISN'T FALLING
You are joking right?
, etc, etc
But why do i bother? is Shorty! we know his ways
"I learned long ago, never to wrestle with a pig. You get dirty, and besides, the pig likes it."
George Bernard Shaw
“You can ignore reality, but you can't ignore the consequences of ignoring reality.” Ayn Rand