Peak Oil Passnotes: Oil at a Turning Point

Resource Investor – There are three choices for the market in crude oil after its recent steep falls. It can stay roughly around where it is now, $62. It can fall back down through the technical and software barriers that support it to new year lows or it can go higher once more. Perhaps very high. It all depends who, or what, you believe.

If you believe the Dow Jones then there can only be one answer. That the market is robust, economic growth is on the move and the demand for goods and services is going to continue to suck up more and more crude oil. Equities are hot; the media is telling us corporations are strong.
Resource Investor