normthefedup

Why $200 Oil Is Good for US Markets

Are you crazy?

What’s Driving Oil Higher? It’s the Dollar, Stupid!

We can keep taking this argument backwards in time as to the causes of oil reaching new highs to the American Revolution if we like. If it were strictly based on supply and demand, prices would be lower. There's plenty of oil and a long way until we've peaked. I've watched the price of oil change as much as $4 a barrel in minutes over the last few months based on nothing more than conjecture and rumors. The supply and demand was consistant as was the value of the dollar for those few minutes. Nothing had changed other than the attitudes, fear, and downright panic of the speculators who are actually controlling this market. It's not the Arabs....by the way....Canada is now our largest single supplier of crude....it's not the oil companies, it's greed. Put yet another blip like the "Nigerian rebels have blown up another oil pipeline which will result in the loss of 50,000 barrels a day..." and the price will go up yet again. In the mind of most of the morons on the street, that's a lot of oil and significant. In light of the 85,000,000 barrels a day that the world uses, that's the equivalent of an expensive celebratory dinner for four after you've just hit the lottery for a million bucks. The proverbial spit in the ocean. But it will impact everyone's pocketbook. And again, nothing significant has taken place to cause the change in price except panic. Good luck and enjoy the ride. Wanna save money on oil? DRIVE LESS!