Quote:
Originally Posted by Botnst
I think it's an amazing prognostication in every way. People can't predict the failure of the investment banking system or real estate worth a crap. Can't predict the oil price tomorrow or next month, but have no problem embracing a mystical belief that they know what will or will not affect prices 10 years hence. Faith is a beautiful thing!
B
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You're confusing short-term specific predictions with long-term, more general predictions. There's no foreseeable way additional US drilling can affect international oil prices beyond a few percentage points because of the immensity of global oil production vs. US oil production. These numbers are really difficult to twist in anyone's favor.
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09-15-2008, 11:04 PM
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