Fri 16 May 2008
A little bonus political content because the oil markets have been more exciting than the credit markets as of late… Dubya begging the Saudis to increase oil production:
“Oh hai… ur oil… I can haz moar? Presidenshul SUV’s, let me show you them…”
Srsly can we PLEASE stop filling the SPR now?? And, this regulation where CFTC wants to start counting contracts across exchanges - while I do think a nontrivial part of the oil price right now is speculation-driven and not demand-driven, seriously, what are you going to do other than force the speculators to overseas exchanges? If anyone thinks this will work, pls splain to me thx.
