Monday, August 29, 2005

The MSM, the Passing Winds and the Price of Oil

Why is it that the MSM Evening News shows love to try to make us sweat?

I must have seen the same, the very same traffic light in Biloxi, Mississippi blow across the road because of the hurricane down there at least five, maybe six times in the same newscast.

I guess they really wanted to make a point that the throngs of reporters they have on the scene there are really paying attention to the fact that the wind is blowing awfully hard.

Speaking of hard blowing winds, the next big, I mean REALLY big news items is the price of oil. Heck, it went up to $70 a barrel today, then dropped back to $68. Everyone's worried that a few days of wind and rain in the Gulf is going to shut down all those oil rigs out there. Panic is driving up the price.

But the BIG contributor to oil pricing is China's artificial demand. They are driving it up like an Otis elevator stuck on the penthouse button.

It's all phoney. And when the truth is made known, I suspect oil will plummet. Well, at least drop back to more reasonable pricing. My guess is just below $60 a barrel. I am thinking this will occur around October. Possibly late September. We'll check back to see if senescence is affecting the little grey cells in a few weeks. Of course, this could be my own little gale of hot air.

Hang on to your hats.

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