KoalaBear33:

Still sticking with my view... oil can easily keep rising as long as the FedRes cuts rates (hence weakening the US$)... let's see what happens when they stop cutting rates in a few months...

Oil started to rise from $20 in 2000 to $120 today. In between those 7 and plus years, the Fed cut rates from over 6% in 2001 to 1%, to then reversed course from 1% to over 5% in 2005, and the reversed course again and cut rates from over 5% to 2% today. In between all these fed actions, Oil has ** NOT ** backed off in price. Instead, it rose, then it corrected for a few weeks/months and it rose again. So your theory that Oil price increases just based on US $ weakness is just plain ** WRONG **. I just proved it. It's all in the supply/demand. The US $ weakness is just one of the cards for high oil prices, but not the main one. The fed will stop cutting rates maybe on the next meeting, so what!! Oil prices are due for a correction, but in the long to intermediate term Oil prices are set to rise MUCH higher, regardless of what the Fed will/will not do

BTW Koala, you should read this. $7 gasoline by 2012. Hard to believe right? Yeah, it was hard to believe even to the Judyken of the moments that Oil would get to $120 in 2008

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