Bill Bonner, venerable voice of reason (with a touch of doom), at The Daily Recokoning, looks long term at gold, the markets, and the end of the depression.
In the energy market Wednesday, crude for June delivery debuted as the front-month contract by rising slightly to close at $118.30/barrel, up 23 cents. May reformulated gasoline gained 3.23 cents, solidifying its place above $3 at $3.0424/gallon.
Like a broken record, oil hit new highs today while the dollar reached new lows…
Eric Roseman sees oil prices trending lower. He says, “Oil belongs closer to US$75, not US$113 a barrel.”
Byron King says, “Everyone has to realize that this is something permanent, going forward. “Peak Oil” will not pass if we ignore it long enough. And no one can solve the problem just by bellyaching about the rising price for gasoline.”
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