Like the illusion of Wall Street, with its vast and powerful investment banks, now shuttered, China too is an illusion perpetuated by the Globalists that gave us the 15,000 mile Caesar salad, poisoned cat food and lead based paint on babies' pacifiers. Like the illusion that money would come from thin air to always push housing prices higher, China has spent a generation pursuing its illusion. Pursuing an unattainable dream to be like the West, while 6000 years of its carefully shepherded top soil blows into the sea.
Posted: Wed Jul 30, 2008 1:23 pm Post subject: Oil surges on stockpile shortage
Quote:
Oil prices have rebounded after the US said petrol stockpiles had fallen unexpectedly last week.
US light, sweet crude rose $4.25 to $126.44 a barrel having hit an almost three month low on Tuesday. London Brent crude rose $4.09 to $126.80.
Petrol supplies shrank by 3.5 million barrels, the US Energy Information Administration said. Analysts had expected a 200,000 barrel gain.
In previous months, oil prices have rallied to record levels partly because some investors were looking to protect themselves from a weakening US currency.
Another factor helping to cut oil prices in recent weeks has been on the supply side, where there were indications that tensions were easing between oil-producer Iran and the US over its nuclear programme.
This reduced fears that the supply of crude oil from Iran could be interrupted.
But on Wednesday, Iran said that it would continue its nuclear path.
Western powers had given Tehran two weeks from 19 July to respond to an offer of holding off more UN sanctions if Iran froze expansion of its nuclear work.
Joined: Jun 05, 2005 Posts: 365 Location: Portland Oregon, USA
Posted: Wed Jul 30, 2008 7:15 pm Post subject: Re: Oil surges on stockpile shortage
So typical. Headlines all over the place the last few days about how oil prices were "retreating", "tumbling", etc. down to $120. Wasn't long ago everyone was panicing at $90.
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