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  • From: Clansgian AT wmconnect.com
  • To: homestead AT lists.ibiblio.org
  • Subject: Re: [Homestead] Total disbelief-oil
  • Date: Thu, 28 Aug 2008 23:27:26 EDT


> >That's fourteen cents in two hours based on a speculation
> that the hurricane will damage operations!!!
>

Yes, but here is what some analyst-types are saying. When oil was $147 a
barrel, some of that figure was speculation. The actual price based on
funamentals, said they, was around $120 a barrel. When oil went below that
to $112 or
so, said aforementioned analysts, that was speculation too, in the other
direction!

So from this view of things, oil (and gasoline) has not gone up because of
the pending Gustav, but rather speculators had driven it lower than the
fundamentals would bear and now that downward pressure is gone and it's
headed back up
to its "real" "value". </HTML>




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