[Tanada]

First we have news that Oil on the futures market for June took a major dive today, falling into the $48.00 range on speculator beleifs in massive inventories of Crude and Gasoline in the USA. If you look at historical numbers for Gasoline stockpiles the current ammount is just below average, not especially high or low.

http://www.nzherald.co.nz/index.cfm?c_i ... D=10125320

I expect that downward spike will reverse itself when the next headline on Oil I read sinks in to the speculator's and analysts models, in this one the Presidente of Venezuala states flat out again that OPEC is pumping as hard as they can to meet world demand.

http://breakingnews.iol.ie/news/story.a ... =y4z688z48

President Chavez goes so far as to state $this->bbcode_second_pass_quote('', 'C')havez, whose country is the world’s fifth largest crude oil exporter, said that all OPEC members were “producing at full steam”.

“There’s a worldwide energy crisis around the corner,” Chavez told reporters at the end of the first Summit of South American-Arab Countries in Brazil.

[tdrive]

$this->bbcode_second_pass_quote('', 'H')eadlines at odds with each other on OIL

[EnemyCombatant]

I think this is market manipulation in order to maximize profits. This is being done with foreknowledge that resources are dwindling.

After reading the extensive article in The Economist, I have come to my own conclusion that oil and gas compaines are going to milk this baby dry. It is very troubling that energy companies are not doing any serious R&D on alternative energy resources. Have they just given up? Unlikely. Do they lack the money? LOL! Apparently the world leaders have decided to take us into another direction.