Posted by rrlund on February 21, 2011 at 17:44:13 from (207.241.137.116):
In Reply to: Re: Gas Prices posted by Traditional Farmer on February 21, 2011 at 16:48:12:
If those events were going to have a large impact,oil would already be $150 a barrel. It's not like any of this just sprang up today. When Mubarak resigned,oil prices went down. Nobody wants to own it if they can't move it.
How many "tragedies" were going to drive oil prices through the roof in the past year?
The fund traders who are driving these markets have more in their portfolios than oil. They lost their shirts in the 08 crash and they aren't gonna do anything to wreck the economy again and shoot down the value of all of their other investments.
Sound to you like somebody who's been watching cartoons for the last month?
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