jamesinclair
Banned
This is legitimate. Unless the U.S. does something about the refinery closures we're screwed. The demand is VERY low in the U.S. right now and prices are still outrageous. This is without any constant threats from Iran affecting gas. Anything big will tip the scales well over the $4 mark.
Nothing big is needed to get is over $4. I guarantee that will happen in a few weeks.
Right now we're at the highest ever for January. If the standard cyclical pattern holds, were going to fly past $4 and, IMO, past the 2008 record.
2010 was the only year without the cyclical summer spike. Every other year has had it, and we will this year.
Just compare to 2011, a year where the economy was still depressed.
You can see the annual cycle here