Comments on: A tired narrative line on oil prices

By: feeblemind

feeblemind — Mon, 07 Jul 2008 14:38:47 +0000

Re ‘tired excuses’. Yes indeed. I too am tired of the same old reasons being trotted out, but what else can the analysts say? More buyers than sellers? Futures are a zero sum game and to join the game, a buyer has to find a seller. Who wants to sell into a runaway bull market? Too many buyers chasing too few sellers. Random thoughts: One wonders how accurate world supply/demand statistics are? Is the price rise really due to market forces and not speculation? This is a fascinating albeit extremely painful scenario unfolding. Prices inexorably rising for a commodity that has a largely inelastic demand. Something is going to give. It is just a matter of time, but then I thought that 5 years ago.

By: MarkD

MarkD — Mon, 07 Jul 2008 11:06:17 +0000

Drill here, drill now.

As long as we lack the will to do anything about the present situation, we will continue to have it. Laws and hearings won’t do it – the key is more supply. What we should have is the DOD guarantee to buy oil from the tar sands at a floor price. Instead, we get some Democrat idiot from California preventing the DOD from buying the oil at any price.

When the sheep wake up and realize what is being done to them in the name of environmentalism and politics, expect some ugly but well deserved retribution.

By: reliapundit

reliapundit — Sun, 06 Jul 2008 13:19:28 +0000

isn’t there any transparency in these trades?

shouldn’t we be able to find out who is really trading all this oil at these insane prices?

if not, then we should pass regs/laws to give the public this transparency.

By: gs

gs — Sun, 06 Jul 2008 04:20:21 +0000

In our view it is highly likely that the oil producers themselves have been in on the frenzy.

If that’s the case, give the devil his due for the malign artistry: OPEC tells the literal truth, leverages its profits, and perhaps implies that Jews (“speculators”) are to blame.