Article: 60% of oil price is speculation

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Article: 60% of oil price is speculation

Postby JohnP » Mon May 12, 2008 11:40 pm

Should come as no surprise. Here's a link to an interesting article exploring why the cost of a bbl of oil has gone up so fast.

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Postby MSimon » Tue May 13, 2008 3:56 am


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Postby scareduck » Tue May 13, 2008 9:31 pm

Nonsense. explains why such bubble talk is just that. This is real and getting worse and not going away. (I should also mention that I disagree with Krugman's comment at the end about how riding the bus wouldn't be such a bad thing; it values individuals' free time as essentially of zero value to them and society, something that is patently untrue.)

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Postby MSimon » Tue May 13, 2008 9:44 pm

From what I read inventories in the USA are rising and refineries are running at 85% capacity - down from 95%.

If there was world wide demand those refineries would be selling to the export market.

Something is up. BTW sometimes even when everyone knows we are in a bubble prices keep rising. Remember the housing jokes starting 2 years before the bubble collapsed?

Because of the long lags in oil production/refinement the cycles can build for a long time before they collapse. Then they fall off a cliff.

BTW Krugman was once a sharp analyst. However, he (like most economists) does not understand lags and the relation of control theory to economics. More is the pity.

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Postby Roger » Wed May 14, 2008 1:15 am

I like the p-B11 resonance peak at 50 KV acceleration. In2 years we'll know.

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Postby scareduck » Sun May 18, 2008 3:11 am


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