Oil Futures
 

Today (12-29-08) Oil went up to 40 dollars a barrel, this is directly related to the 3 days of war in Isreal. Also China announced it is still stock piling oil while the price is low. China is building an emergnecy reserve. I don't know the scope of China's reserve or how many tanks, but it is something to consider. OPEC would like to see 100 dollars a barrel, OPEC still plans to cut back more production. Directly related is the rise of gas prices, so enjoy while the price is cheap.

The timing of this war seems significant. Why did Hamas suddenly declare the "truce" to be over and then rain rockets on southern Israel?

Could Hamas be trying to increase the price of oil for its allies via war?

I don't know, but I told my dad last night to make sure he filled the tank on his RV soon. I wasn't aware of the rise in crude prices, but I was predicting that oil futures would rise the closer we got to inaguration day. Right now he can fillup locally for $1.47.

-Jay

Regardless of what has been happening, I think it is a no-brainer that these low prices are not going to last.

When the parasite (OPEC) sees the host (World Economy) start to recover, prices will rise.

Inflation is coming and that will compound the rise.

Inflation is the only way to keep all those unfortunates in their houses.

Carter Era II.

regards
gary

Yeah, but at the end of the Carter administration my mother got a hell of a deal on a brand new Pontiac Bonneville stationwagon... I remember seeing on the title that she had paid less than $10,000 for a full size, almost fully loaded 9 passenger wagon. I sure wish I had the funds to buy a new truck right now...

-Jay

i've never heard the elect administration described that way. :rolleyes: