Panskeptic

Is Oil a Bubble? Part One

There are two predictable threads that pop up on Seeking Alpha time after time.

1) When people discuss commodity supply/demand, they always mean within the U.S. until they get reminded that there's other people out there.

2) Commodities and commodity ETFs are expected to behave like stocks, and chart overlays are produced all the time reinforcing this misconception. Stock mavens new to commodities have real trouble recognizing the differences.

And BTW, no farmer gets executive compensation like the heads of oil companies. So discussion of a windfall-profits tax for the ag sector is not in the cards. But a wpt for Big Oil does not offend my theology.