Basically the 40 page report says the world economy has grown at a rate of 5% a year for the last 4 (or 5) years without a corresponding increase in oil production. I don't know how this can be with Russia expanding its oil production are other countries slacking off? The report also says concerning specualtion there were actually more short sales of oil then there were long buys. This I don't understand. There is always another person on the other side of the transaction. For every seller there is a buyer and vice versa. The oil speculator sideshow - Jul. 24, 2008 newsroom/documents/file/itfinterimreportoncrudeoil0708.pdf] Inter-agency report pdf.
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As a kid I always thought my nickname was "attaboy" until I realized they were rooting for the dog: "Attaboy, get 'em! Get 'em!". |