Monday, August 01, 2005

Oil passes $61 a barrel on Saudi king's death

Why the fuck should oil be any more expensive just because some old guy dies? Especially since it looks like he hasn't really been in charge for ten years anyway. Do people think that despite doing pretty well with this whole oil thing, that Crown Prince Abdullah is suddenly going to give it up and devote his country's recources to something else, just because his brother died? I'll never understand economics.

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8 comments:

STP said...

That qualifies you to be an economist then.

John Howard said...

Does that pay well?

Always Sourced, Never Disputed said...

KInda of like weather forecasting. You only have to be right some of the time.

You know the answer in this case, I think this is a case of profit taking. There is no real instability caused by this event but the players make it sound like there is to turn a few bucks.

Ace Cowboy said...

There was also a refinery fire at a BP facility in the United States. So while the WSJ and other outlets want to blame it all on Fahd's death, it's just not the case. People just like to explain things with broad strokes.

John Howard said...

Thanks, Ace, that makes more sense.

Me4Prez said...

I hear he wants to become a dancer. Rumor is he is going to turn all the refineries into all male ballets

Patrick said...

Have you noticed that the second something in the news relates to oil prices, the price goes up. But when good news happens, it takes a month for it to get to the pump ("well, we bought all this gas when the price is high".)

Damn Haliburton.

John Howard said...

Yeah, that seems a little strange, doesn't it?