Peak Oil Passnotes: Merry Christmas Everybody!

Resource Investor – Does anyone remember last Christmas? Not what the Turkey was like or whether your mother in law gave you socks. Do you remember what the price of oil was? $70? $65? No it was $55. Give or take a plum pudding or two it was a full $20 less than it is now.

Right now it is easy to see which way the price is going to go, up. It has been quite settled between $72.50 and $74.80 for the last two weeks after its initial surge following Israel’s attack on Lebanon.

But each time the price looks set to fall by any amount the traders remember the world we live in. Unsettled, violent and chaotic. Then there are the American statistics.
Resource Investor