yes another oil company profit thread!

http://www.willdurst.com/DurstCaseScenarios/WeeksWorth06.html

 

Oil just closed over $100.00 per barrel yesterday on speculation. OPEC will supposedly cut supply in their meeting next month, and a refinery in Texas blew up.

All politics aside, doesn't it feel good to own a hybrid right about now?

 

Oil prices retreated somewhat today, I kinda figured they would as the run-up yesterday was caused mainly by emotion relative to the refinery explosion, rather than being related to fundamentals. If you think about it, shouldn't that cause crude-oil futures to decrease in price more than increase? I mean, it is the functional equivalent of the price of hog-bellies going up when a meat-packing plant burns down, makes no sense and should actually have the opposite effect, because there's going to be a bottle-neck in the chain and, hence, a potential supply glut of the raw-material in question.

And YES, it does feel good to own a Prius right about now, and I suspect will feel even better a few months from now when gas surges to $4 per gallon this summer.....

 

The price of oil is set by two things primarily, the policies of OPEC, the Organization of Producing Countries, and the oil futures markets of which one of the largest is the London futures exchange.
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