John Manfreda believes that oil prices are headed higher, especially when the next round of money printing begins in earnest. John recently authored a report that explores the trends and future prices in depth. He’s unconcerned about US and European demand, as he believes the developing world has more than picked up the slack and will continue to do so. Oil seems to have fallen into an interim sweet spot of $75-85. Each time the price has gone above that $85, it’s been beaten back, and it hasn’t gone below $75 for long periods of time. One thing is certain, the world will need ever increasing amounts of oil, and while we may not suffer shortages due to so-called peak oil, the costs of extraction will increase over time.
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