Traders at wall street were shouting when Oil raised to the levels of near 150 dollars per barrel... Oil experts were called in to give their opinions and those experts were telling that those prices were unrealistic and that it must be due to speculators etc etc....

Well my opinion is that when oil was at near 150 that that was the only time that the price was realistic...before that; oil has been stable and in fctduring those times the prices have never been realistic...

Oil has infact never been a realisticly priced commodity because the prices have always been manipulated through cartels like OPEC.

The price was carefully managed...high enough to make good profits for the stakeholders in oil ....but low enough to keep all "alternative" energy sources from competing.....  Add to that the mind boggling subsidies from the World Powers governments to try and keep securing the flow of oil resources through military power which in total amount to a cost more that the total Oil-bill in a year (the iraq war for example will cost 3 trilion USD). Only if you know that; you will understand that oil prices have never been realistic. It has been manipulated since the first discovey of the power of oil; all with the intention to control power in the world.

Prices were managed by opening and closing valves....oil-price too high..oil flow was increased....oil-prices too low....oil flow was reduced.....until we came to the point that world economy kept on growing with enormous rates adding India and China to the big pool of huge oil consumers.....suddenly we discoverd that the valves were all fully opened....and the cartel lost it's tool to control the oil prices....

Finally oil price could become realistic and non manipulated anymore....now determined by the real demand a ability to supply....

Why has nobody at wallstreet ever shouted that the price of google stocks were unrealistic.....simply because Wallstreet traders are energy illiterate...they only know that energy is a commodity that should have a price which is stable....

Now the world economy has been hit badly by the high prices; and the demand has gone down and presently he prices are back in the grip of te cartel....NOT realistic!

But don't worry....SOON the prices will get realistic again when world economy starts making some progress again and pople start burning larger quantities again...

Soon we will see realistic prices again in the range of 150 and above.....after which the world will go into another and another and another economic downturn and crash.....

Until the point that people finally become energy literate.....and understand that oil is a precious resource and NOT energy and that there are enormous energy resources without limitations for us to harvest....we will only see them when we quantify them in one currency...the Joules