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Rocketing Oil Prices Will Stop Sooner or Later

Posted in Gas Prices by David | May 29th, 2008 | Leave a Reply |

At somepoint in time the Gas Prices will be more reflective of reality than based on what speculators can manipulate in the marketplace. Atleast that’s what George Soros thinks. By then I’m firmly in belief that the automotive industry will have shifted to alternative fuels, and electric powered vehicles. But lately I’m a junkie for alternative power supplies. Here’s the video where George Soros, the billionaire hedge fund investor chimes in.

Speculators are largely responsible for driving crude prices to their peaks in recent weeks and the record oil price now looks like a bubble, George Soros has warned.

The billionaire investor’s comments came only days after the oil price soared to a record high of $135 a barrel amid speculation that crude could soon be catapulted towards the $200 mark.

Source: Daily Telegraph

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