There are 2 known facts. Scenario 1: World (spot) demand now exceeding world supply, I agree. Scenario 2: The volume of oil futures traded increased 10-fold in 3 months; there is no chance in hell that China/India increased cars/consumption 10-fold, so presently every storage tank and oil tanker on the ocean is full, for delivery in September or whenever. The refineries can only process so much. Everybody owns oil futures and has to sell some or other time to a processing facility. Soros suggested its a bubble, I think he may be right and in September we may see oil at $80/bbl and Sasol way down. OMO.
Hey LG hows this for a plan. China floats its currency alla Asian crisis style it totally wipes out commodity prices and the dollar rallies, and all the while GeorgeW and his mates are going short oil futures