Where does Oil Go From Here?

[Joshua Dorkin]

With Oil pushing $113 and quickly climbing, it looks like the global recovery is about to turn south and fast. I'm curious as to what everyone thinks the next 3 months, 6 months, and year will bring to oil prices (and as a result, inflation)?

Where is this mess going?

[Account Closed]

Originally posted by Bienes Raices:

Originally posted by Matty M:

I am with you, Bienes -

On one hand I am excited. I've been averaging 45% a year return in the commodities space since Mar. 09. But on the other hand is it really just purchasing power of the dollar losing value? Luckily at the moment I am not driving much and I eat more chicken than beef.

Yeah, if I had to choose I would rather have my gold investment become a flop than have the U.S. take a major hit in terms of inflation and gas prices. People have been put through enough already.

Having said that, it is exciting to watch gold continue to climb. Everytime it draws back the naysayers say it's going to crash, and are then proven wrong when it reaches new heights a couple months later. Is something a bubble if it consistently follows the same pattern for eight or nine years? Is it too late to get in? I don't know.

There are a lot of people talking about how "gold is at a top". I believe that is not how tops work. My belief (and money is on) the premise that we are at a top when everyone is talking about how "gold will keep going up." The signs in front of coin shops will lean more towards: "we sell gold" instead of "we buy gold"

Plus all the crazies who think the world is going to end in December 2012 are going to drive up the price :). Though I am not quite sure how gold will protect against that.

Oil seems to be coming down a bit. I would like to see that reflect at the pump soon.