Rude Oil to set Hell on Fire
© Helena Lind · Filed Under Features · Add your comment
Originally I wanted to write about how it might feel to be inside the
mind of George W. Bush while he is still in office…
But no peace for the wicked – it’s oil once more and so much more important too.
I like to invite you again to think differently briefly.
Here’s the story:
GAZPROM, the Russion Energy Biggie that added former German Chancellor Gerhard Schröder to the company’s collection of empty tins warned the world that by this time next year a barrel of oil could cost $250 following a neat opinion from the Western Countries Energy Watchdog saying that high oil prices are important to control demand and balance the markets.
And the International Energy Agency lets us know further: “Abnormally high prices are largely explained by fundamentals.”
So they cut Oil Demand Growth Forecast for 2008 but surprising with a hefty reduction of the forecast for Non-Opec Supply Growth.
“This is a case of supply and demand pulling in opposite directions to push prices higher.” says the nice man from IEA.
Oh yeah?
That’s it?
Today BP CE Tony Haywart debunked speculation and “technical” factors being a main reason for soaring oil prices as a “myth”.
“While these factors may have an impact on the margins, the data clearly show that high prices are really caused by economic fundamentals,” he writes in today’s FT.
Data provided by the likes of the IEA?
How nifty.
Awww – what a lovely unison concerto.
Coining future margins so easily.
So simple to endanger warmth, light and mobility for poorer countries even further, no?
Turning Crude Oil to Rude Oil.
What makes me think of Ancient Rome, especially that infamous greedy Marcus Licinius Crassus?
Why not google him?
But if you wanna look for a real “myth” check out out the denials of those who profit.
With the words of Marcus Tullius Cicero: Cui bono?
I say: Cui prodest!
This article published by MIZPAH Magazine - ©2010 www.mizpah.tv
© Helena Lind
score!
The Janus-faced view of soaring oil-prices:
Stop wasting fossile energy in daily life.
Its one way to cheaper oil.
Rude oil only too true, admirably said.