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Interesting insight into where the elasticity of oil comes from ...
As fuel prices drop
Shippers and airlines burn more to increase speed and
Consumers are more likely to start driving (during the summer with expensive gas, the Southern CA population in Vegas all but died out. The LA crowd is back now)

I don't get his conclusion of how it points to a possibility of $150 oil though... I did put in some more $ to buy the dirt cheap oil stocks however- (PBT and one more ... maybe CGV - got to keep a good distribution of companies).

My main selling point with oil/nat gas is that worldwide inflation will increase, slowing oil's drop as the economy approaches a bottom (no sight of it yet, but its down there somewhere) and putting in some spending supporting its use. When the economy turns (eventually) oil will go up dramatically reflecting not only increased demand, but increased inflation.

I am still stubborn against the idea of investing in gold because I don't trust it... it seems too obvious a play for inflation/flight to safety and it goes against one of my more important rules - don't invest in anything that uses mainstream advertising to pull in investors. I still remember hearing the radio ads about the incredible 14% returns on bonds that were essentially risk-free because they were secured by real estate - and I still wonder how many people bought into that and lost money.
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