Thursday, June 26, 2008

Oil up $5.09 today

5 bucks folks. Anything happen today to cause that? Some refinery blow up? Did Israel blow up something? Did the Iranian president fart? Did an oil tanker sink? Was there a riot in Nigeria? Did Hugo Chavez call Bush names again? Did the Chinese double their order? India?

What exactly happened to justify that kind of increase? A Brokerage is having problems? What's that got to do with oil discovery, pumping, refining or delivery? Pure speculation folks. Did the US Dollar drop in value by 50 cents? 25 cents? 10 cents? Demand is down and Supplies are adequate so what's the deal?

Speculation and profiteering.