Harus

Oil Is Up Due to Fundamentals, Not Speculation

Production figures are down because demand is down. Saudis had to reduce pumping because no one will buy the excess oil . Iranians have rented supertankers to store the extra oil they couldn't sell.

Inventory is down because refiners anticipate less demand for gasoline, they are ordering less oil. Keeping less inventory is what every business does in lean times.

Every bit of news is mis-reported by the big news media. Goldman Sach and cohorts own the media . From WS Whore to CNBC, they all toe their big advertisers line. We see Goldman come out on Monday call for $150 oil, T Boon Pickens come out Tuesday forcast 150. They even own the Treasury Department. Our congressmen invested their billions in hedge funds also want high oil.