Jim Rink
Jim Rink
ahead biggest buying demand funds groups guarantee issue markets massive oil plenty prices return supply
I don't think this is a supply and demand issue at all. There is plenty of oil out there. I think the biggest thing going on is there is massive speculation on the markets where hedge funds and other groups are buying oil futures ahead of the traditional run-up in prices to guarantee a return on their investment.
easily gallon gas hit last per prices reached threshold
Gas prices could easily hit $3 per gallon this summer. That threshold was already reached last year.
economy growing rapid
Right now their economy is growing at a rapid pace, and they need to be supplied with oil.
associated cheap costs days gallon gas global higher increasing oil three
In general, $2 a gallon is a thing of the past. We have increasing global demand, decreasing availability of oil and higher costs associated with extracting it and refining it, so the days of cheap gas have probably been over for two or three years.