G. L. Turner

10 Notes on the Crude Oil Fixation

Today, it was reported that the Commodity Index Funds now hold $1 Billion of Crude Futures....that is 100 billion barrels..of long oil, my friends...and you wonder why oil is $136 today...they don't have enough purchaser/users to pick up their contracts, so they have to keep adding to the price to bring in more money to swap/roll thier contracts...

Won't matter how much oil we drill or the Saudis pump, untill these new, enormous maverick stock funds get out the commodity futures markets, there is going to be TOO MUCH MOENY Chasing OIL and the other commodities and we will see nothing but outrageous prices!!

10 Notes on the Crude Oil Fixation

Today, it was reported that the Commodity Index Funds now hold $1 Billion of Crude Futures....that is 100 billion barrels..of long oil, my friends...and you wonder why oil is $136 today...they don't have enough purchaser/users to pick up their contracts, so they have to keep adding to the price to bring in more money to swap/roll thier contracts...

Won't matter how much oil we drill or the Saudis pump, untill these new, enormous maverick stock funds get out the commodity futures markets, there is going to be TOO MUCH MOENY Chasing OIL and the other commodities and we will see nothing but outrageous prices!!

YG