What else is new. Nigeria either has pipeline explosions, small scale warfare, or striking workers on a weekly basis.
Right, why dont we all do that to offset high gas prices? I mean i don't spend very much on gas so I wouldnt but if you're a trucker or someone who commutes why not? Could hedging be part of the reason crude is where it is?
States weigh options in offshore oil fight Some governors promise to block attempts to tap energy reserves http://www.msnbc.msn.com/id/25252119 Key line: Governors in some coastal states promised to block attempts to tap offshore petroleum reserves, citing concerns about the environment and tourism.
I still think oil sucks, no matter how high it goes. The Arabs and the govt. regulators have too much power. If you want to play global infrastructure & growth I recommend coal and potash. I still think oil will go to $200 but the risk/reward ratio isn't that good compared to alternatives. Oil got routed in the 80's and it would suck to be long then. The cause has yet to be determined.
Yup oil crapping out as it always does You have two huge days of buying and then weeks and weeks of selling Everyone is complaining of rising oil but do they even look at the charts? It hasn't done anything in weeks.