If you use iGoogle (make a google account and customize your home page) make sure you add the “Energy News Today” RSS feed. It’s cool because it gives a constantly updated oil price, but the pest part is that it’s from “www.peakoil.com” and ALL of the headlines are “OMG THE SKY IS FALLING” type of news blurbs. All of the doomsday headlines are really entertaining. Right now it’s:
Actually I am right at one of the oil fields and they try to blow it up all the time. They got it good once and started it on fire it was super badass. Well badass for m watching from a rooftop not so badass for the Iraqi police that were guarding it.
Want to stabilize oil prices? Require anyone purchasing an oil contract to accept delivery of that oil.
Overnight you’d see all these asshole investors trying to profit off any bad news out of the oil market and oil prices would return to simply supply and demand pricing, instead of speculative pricing.
No we should all just start trading oil and use to profits to cover the difference and then some. Too bad once I am back in the states i wont be around computers during the day.
Oil nears $126 a barrel
Crude prices surge to new record, supported by weakening dollar, supply concerns.
3 hour later EDIT: Oil rose above $126 a barrel for the first time Friday, bringing its advance this week to nearly $10, as investors questioned whether a possible confrontation between the U.S. and Venezuela could cut exports from the OPEC member
Oil is going to be next year’s housing bubble if the fed doesn’t step in and regulate how oil contracts can be purchased.
Watching the overvaluation of oil by speculators brings back real bad memories of exactly what lead to the housing market crash. Eventually that oil bubble is going to pop too if they keep running oil prices up with no supply/demand issues.