Bryan Kautzman

Watch for Yourself: 60 Minutes Oil Story Was Spot On

Would you care to expand upon this?


On Jan 14 12:26 PM Geoff Considine wrote:

> This article and the following discussion shows how much misinformation
> is floating around about what drives commodity prices. Perhaps the
> saddest thing is how many people weight in on commodities markets
> without really understanding them--including politicians. As is so
> often the case, the dialog/comments are even more interesting than
> the article.

Watch for Yourself: 60 Minutes Oil Story Was Spot On

What most people don't understand is that when oil hit $147, bailout checks were being mailed and the conomy was still, on a day to day basis, fundamentally sound. If the market hadn't crashed, the price might still be rising. However, it might also be noted that the rising price contributed to the crash. It was one of those perpetual circles where something had to give.

The price of oil will recover with the economy. The bigger problem, as I see it, is that the entire energy sector collapsed with oil.