Bush Says Drill - Oil Drops $9 a Barrel?
Wait a minute... this can't be.. Everyone who would be having us eat their baloney about drilling off shore and in ANWR won't effect the price of oil, must have missed this?
Traders took a look at a feisty and aggressive George Bush and started selling the market well before a single new drop of oil has been lifted. What does this tell us? Well, if Congress moves to seal the deal, oil prices will probably keep on falling. That’s the way traders work. They discount the future. Psychology and expectations can turn on a dime.
Well, I'll be?
posted by Spank That Donkey at 11:29 PM
Comments on "Bush Says Drill - Oil Drops $9 a Barrel?"
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dougo said ... (July 16, 2008 at 9:16 AM) :
post a commentI think the sober realization that the US economy is about to implode is affecting the future price of oil. The expectation is that US demand will decrease as economic activity slows.
"Feisty and addressive George Bush"
Were do you get this crap?