Actually, you were ahead of me on this one. After compiling and processing my bond data this weekend, I was left amazed by the magnitude by which market bias had dropped last Friday. Bonds are not undervalued anymore because of the change of sentiment that took place Friday. I still think that a 'long stocks/long oil' position is a winning hedge to maintain.
what about alot of americans in texas,wyoming and other oil/gas producing states? alberta? lots of people very happy with high oil in those places also. but compared to the opec countries its probaly pretty small.
Wow, oil went all the way down to +1.17 at $67.30, so cheap. LOL At least it might get fuel cell technology moving faster. Then we won't be giving so much of our money to the terrorist oil countries.
The U.S. Coast Guard said it has received reports that Hurricane Katrina has set adrift one, and possibly two, unmanned off-shore oil drilling units in the Gulf of Mexico. http://www.cnn.com/2005/WEATHER/08/29/hurricane.katrina/index.html