Gasoline prices then were $ 73 / barrel , and I had predicted a very, very steep hike in prices $ / barrel.
The price today is $ 97 / barrel....it touched $ 99, but failed to break the psychological barrier of $ 100....
Anyway, if I sell today, how much profit do I make ?
32 % in 3 months.
As for sky rocketting prices within the recent period, check this graph from wtrg.com , portraying NYMEX Crude Oil:
The basic factors pumping up the price are the same as pointed out on August 15....
The "mass psychology" factor is starting in factor in slowly and steadily, as more and more people start to become aware of the Hubbert Peak of Oil Production.
This peak, which is , of course , IMPOSSIBLE TO PREDICT, is to come by around 2010 ......
After this, the RISING DEMAND FOR OIL CANNOT BE MET BY THE EXISTING SUPPLY.
My prediction is by year - end of 2008 it should touch a minimum of $ 150 / barrel.
There are going to be temporary slumps, but the macro -trend is up, up & up.
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