A little

7 comments

  1. Chip’s avatar

    Well, I tried calling the peak
    Failed before, maybe now

    Isn’t it odd that this is a day after the Exxon shareholder’s meeting?

    Just one of the calendar things

  2. Mike Warot’s avatar

    Chip,
    I agree it’s a calendar thing… there are a lot of options that expire this week, and some VERY large amounts of highly leveraged money would get lost if the trends had continued upward on commodities according to the natural supply/demand curve. So… the prices are being shoved down, hard by parties unknown for the next 3 days.
    On Monday the artificial restraints will be gone, and all hell will break loose, I think.
    The long term trend is towards a Greater Depression that will make the 1930s look like a cakewalk. The only hope is a radical shift in policy towards fiscal responsibility, but there currently aren’t any adults in charge of this country, so hope is slim.
    –Mike–

  3. Don Marti’s avatar

    Why is it good news when something harmful becomes cheaper?

    “Crack falls from $5 to $3 — more kids can afford it, and grownups can smoke more!”

  4. Andrew Leyden’s avatar

    What is interesting about this article and other more detailed articles on oil prices is how it shows the myriad of different factors that go into oil prices, and how kinks in certain parts can have knock-on effects to the chain. It’s not just ‘the Chinese’ or “OPEC’ or ‘Speculators’ but a huge number of factors that goes into the daily price of a barrel of oil.

  5. Ole Eichhorn’s avatar

    Whether you think lower oil prices are good news depends entirely on your point of view.

    Higher oil prices will reduce consumption, reduce American dependence on foreign supply, and stimulate demand for alternative sources of entropy, which are all good things.

    Yay, $200/barrel!

  6. RBM’s avatar

    As a regular reader of the theoildrum.com it’s gong to take more than a barrel of crude drop of $4 for me to call it ‘good news’ or even just news.

    Geologic reality will be recognized eventually. Remember, Mother Nature bats last !

  7. RBM’s avatar

    Some history.:

    Revisiting ‚ÄúThe End of Cheap Oil” by Jean Laherrere

Comments are now closed.