The endless supply of dollars flooding the world markets simply means that while last week 42 of the pieces of paper wampum could be exchanged for a barrel of oil, this week will require a few more.
The entire economic structure of the West being slowly melted before our very eyes.
J
Evidently the market is not impressed with the Energy Bill winding its way to the President's desk. Coincidence?
Oh i dont think its that ominous.
Plenty of hedge funds are making record profits.
New Cars are being build that are more fuel efficent driving another buying surge. People are selling their SUV's for compact cr.p we got in 70. Just another cycle, first oil co's get money, then car manuf. adjust by building compact death traps.
Plus its a nice back drop for pushing for new exploration for the oil co's...
It's all good volatility brings profits...
"The entire economic structure of the West being slowly melted before our very eyes."
US Dollar and Bush mega deficits, and the debt already incurred without nary a hope of being resolved.
Other factors too, including hedge funds deciding oil a good investment, a self-serving prophecy.
Energy bill a joke. Four years ago Bush gave some hope with the "hydrogen economy." Energy bill? A lot of oil company tax breaks without limits that the breaks need to be targeted to investments for the future.
Republican borrow and spend policy chickens coming home to the roost.
Anyone but me wonder about this one. Refineries turn crude into gas(and other things). Refinery shuts down, crude goes up. Shouldn't it be gas goes up (less being produced) and crude goes down (less being refined)?
Oil prices continue at record highs on Saudi security fears, supply worries (Forbes)
Oil Rises Above $64 on Refinery Outages, Saudi, Iran Concerns (Bloomberg)
Rubbish