Wednesday, June 04, 2008

Did Senate Call Oil Market Top?

Crude oil prices are off 2.7% percent today, touching $124.30. There has been a more or less straight line crude oil decline for two weeks now, dating back to May 21st, with prices down 7.5% in the period.

Hmm, May 21st. Now what could have been special about that day? I wonder, I wonder. Oh, now I remember: That was the day the Senate Judiciary committee hauled in some oil executives so they could do a little election-year posturing.

senate-oil

No comments:

Lunch is for wimps

Lunch is for wimps
It's not a question of enough, pal. It's a zero sum game, somebody wins, somebody loses. Money itself isn't lost or made, it's simply transferred from one perception to another.