Today, on CNBC, an analyst claimed that the oil market had "bottomed out" and that there was an increase in demand. As a result, he believed that oil might quickly rise to $60.00 per barrel. If this CNBC guest analyst is to be believed, we are about to enter another period of dramatic increases in oil prices. If you read my February 11th article on oil, you would know two things: One, such increases are based on speculation rather than reality or demand and second, that any price over $50.00 per barrel will cause untold hardship on the American consumer and economy at a time when we can least handle it.
Copyright 2009 WBSeebeck
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