There has been alot of talk about a speculation factor driving oil prices. Safe to say with recession terror gripping the markets worldwide that bullish oil speculation will become a very unpopular hobby. We should get an idea of how much oil prices are effected by speculation right now.
Lower oil prices generate lower gasoline prices and lower gas prices certainly make people feel better about their economic situation. If this doesn't turn out to be a true economic disaster than 4 or 5 months from now could look alot better to the average consumer.
In the meantime make sure all of you run to the store and buy every last gallon of milk and loaf of bread its going to be ugly today.
Tuesday, January 22, 2008
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