The inexorable rise in the price of oil is the story of our times it would seem.
How fanciful it seemed just 3 months ago when the reports of hedge funds and oil speculators banking on the price of oil hitting the $200 mark by the turn of 2009. Now with the price of oil hitting $110 in mid March the spectre of massive oil price hikes is becoming ever more a reality.
But with all the gloomy prognostications Stalker is still fond of the notion promulgated by some market experts that the whole oil price bubble will burst and that prices will tumble back.
At the moment that seems unlikely given the relentless upward push, fuelled by demand, but more so by jitters on the open market. The jitters aspect of that equation does not look like abating, nor does the demand part.
Somehow though, the common-sense overview would lend one to a pricking of this bubble – an adjustment to the reality of the world economy as it is today, not what it will be like in 10 or 20 years time. But who knows, Stalker wouldn't bet the house on it.
