What is the current going price of oil future contract for 2009 and 2010?
I believe we will not see a recovery from the current financial crisis until the US, Europe and China secure the future oil contract at a price that is acceptable to them. IMO the oil producing nations hold too much US $ and a redistribution is needed to restart global economy. This battle line is now drawn between US and China on one side vs OPEC and vs Euro Zone. I speculate oil prices will go down further until the poorer oil producing nations break rank with OPEC to sell their future contract at the right price.