Why is no one complaining about oil shorts now?

[BekasCMix]

Why isn't the media & the loudmouths complaining about speculators betting oil will go down?? I guess speculators are OK sometimes, eh?

[bkkazyjg11]

Because it was artificially run up and hurt everyone. Oil will most likely hover around $50 especially once the US starts to drill drill drill and then add solars, wind, and nuclear to the mix.

[bgametxv97]

Well then GMs Volt wont help them very much.

[blbmvskf65]

As long as it's doing what you want then it's ok. Instead of complaining about the price of oil I bought some USO myself

[bnlnhpuy99]

The best thing we can do is stop buying oil. We should be selling oil and we should be selling clean coal technology along with as much coal as we can possibly convince anyone to buy. Oh, and if there's no such thing as clean coal technology, then we better get working on it! We have coal, if we sell it along with an environmentally friendly way to extract the energy then we can lower our trade deficit.

[admin]

I don't recall them bashing the speculators when it was $147/bl and that was part of the outrage. In fact, CNBC et al were complicit in constructing the facade that China and India actually warranted a 3 fold increase in crude to $147/bl oil over 2 and ahalf years and $10/bl swings at the peak of the bubble.



Call me naive but is it possible to short a commodity contract? I was under the impression the sell-off in oil was due to all the layoffs in the myriad brokerage firms that implemented commodity trading desks in a frenzy the last two years in a mad rush to take advantage of the trend. Even Goldman is dumping staff in the commodity trading complex. All those positions where the leverage was 10X+ have to unwind when people start getting canned. It was just a bubble like every other asset class we've experienced the past 25 years. Perhaps one day we'll return to a semblence of normalcy and slow but steady growth rather than these Federal Reserve induced boom-bust cycles.