Sunday, January 1, 2012

Don't believe the hype about energy

Oil is still around $100 per barrel.

Oil is still $100 per barrel. Think about that for a minute. It started last year at $91 a barrel. The U.S. is driving less miles now than we were in 2007. Europe is in recession. The U.S. is headed into recession. With demand down, prices should have fallen. There have been misleading stories in the MSM about the U.S. exporting petroleum products and the AWESOME Bakken oil fields. It is nothing but bullshit spin. The supply of cheap easily accessible oil is declining. The existing easy to access oil is depleting and the newly discovered oil is hard to access and expensive. Obama is praying the spin will work until November. As the article below details, he may make it through 2012, but by 2014 the gig will be up. If Obama chooses to attack Iran, all bets are off. The economy will collapse at $150 oil.

No comments:

Post a Comment