I love it when the journalists seek out the experts for commentary:

Arjun Murti, a New York-based Goldman Sachs analyst who covers oil producers and refiners, roiled markets in March 2005 with a report saying prices could touch $105 a barrel during a ``super spike'' period because demand was stronger than anticipated. Price swings might also go as low as $50, Murti said at the time.

He really went out on a limb with that statement. The financial "experts" are about as good at predicting the price of oil as the weather experts are at predicting hurricanes. Really all these experts do is make wild ass guesses based on what is happening right now, just like everyone else. But the media never have some guy like me quoted as saying there is plenty of oil and the price of oil is bullshit and will come down like a ton of bricks in the blast radius of a fertilizer-laden rental truck as soon as we wipe out the source of the world-wide "terror" insurgency.

``We're only a headline of significance away from $100 oil,'' said John Kilduff, an analyst in the New York office of futures broker Man Financial Inc. ``The unrelenting pressure of increased demand has left the market a coiled spring.'' New disruptions of Nigerian or Iraqi supplies, or any military strike against Iran, might trigger the rise, Kilduff said in a July 20 interview.

They forgot to include the headline that will likely cause oil to spike to $110: "US to abandon Iraq".

Or how bout another headline that will send oil to it's non-terror inflated price of $19: "US, Israel totally annihilate Iran, Syria's military capabilities"

Of course the war on terror is all about the oil. Only a dumbass would think otherwise.

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