Peak Oil Passnotes: Born to Be Mild Weather

The week has passed relatively uneventfully apart from some tightening fundamentals. As yet no one has dropped any explosives on Iran, peace is just about being maintained in Lebanon and although Al-Qaida have said they intend to target oil installations they appear to be about as effective an armed group as the U.S. Army. Not very.

Note to Al-Qaida, when you announce your plans, like a warped boys club outing, you look even lamer than you already appear.


Instead, we have some much more straightforward factors influencing what will happen to the market. But with one interesting proviso that the technical analysts do not agree.

Firstly, the weather across the northern Americas and Europe has remained fairly cold to absolutely freezing. Huge snowfalls in the northern U.S. have gripped the media agenda and powered the markets well known herd mentality. When five feet of snow fall in one night you can be sure the market will rise, even if it is a relatively isolated area. After all CNN cannot be wrong.

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