Crude Oil at $200

Crude oil is the world's most actively traded commodity. Over the past decade, the NYMEX Division light, sweet (low-sulfur) crude oil futures contract has become the world's most liquid forum for crude oil trading, as well as the world's largest-volume futures contract trading on a physical commodity. Because of its excellent liquidity and price transparency, the contract is used as a principal international pricing benchmark.


The contract's delivery point is Cushing, Oklahoma, the nexus of spot market trading in the United States, which is also accessible to the international spot markets via pipelines. By providing for delivery of several grades of domestic and internationally traded foreign crudes, the futures contract is designed to serve the diverse needs of the physical market.


Light, sweet crudes are preferred by refiners because of their relatively high yields of high-value products such as gasoline, diesel fuel, heating oil, and jet fuel.

Hi, the truckers in the U.K. are already on strike and on a rampage. There are many gas stations with no fuel today. I think this will get help from on high soon. I am short early on the daily inside bar expecting a break of it to 128.80 then on down for a test of the weekly buob at 121.20
You mean you are not driving a cool car and dressed in leather already?

Well, I've had to resort to a more economical means of transport.

Unfortunately, if I adorn the leather outfit now, I'd probably be getting hit on by other leather chapped chaps!!

http://www.revaindia.com/doctor.jpg

Type :Two door hatch back Payload :4 persons (227 Kg) Top Speed :80 km/hr Charge time :80% charge in 2.5 hrs; 100% charge in 8 hrsIntergrated Power System : Motor :High torque torque (52 nm), 3 phase AC induction motor Controller : 350 Amp microproccessor based with regenerative brakingDimensions Length :2638 mm Width :1324 mm Height :1510 mm Ground clearance :150 mm Wheel Base : 1710 mm Turning radius :3503 mm Unladen Weight :750 kg

http://www.revaindia.com/kids+mom.jpg

Just throwing this out there for your consideration...

Assume for the moment, the US is committed to the Baghdad-Tehran 500. Let's also reasonably assume, that the best time for running the event is NOW, for a number of strategic and tactical reasons.

How do you prevent it from occuring?

Oil is actually cheap. Have you seen the difference between the ounce of gold at $881.00 that easily rests on the tip of your finger, and the barrel of oil at $134.11? OIL IS CHEAP!!! Relatively speaking of course.

If you were in a position of power in a place like, Tehran, Beijing, Moscow, it would make alot of sense to suck up all the oil you can get, even at inflated prices, in order to curb the enthusiasm of some blowhards in DC. Even in the futures market, players at that level can accept very high prices, and take delivery.

It would be a helluva lot cleaner and cheaper than other alternative forms of sabotage.

The irony... within minutes of me posting, this came through the wire.

"The U.S. will urge China to be more transparent about its oil stockpiles and the policies governing its strategic petroleum reserve at talks starting on Tuesday, U.S. Treasury Secretary Hank Paulson told the Financial Times.
The two nations will use the talks to flesh out a 10-year plan for cooperation on energy and the environment unveiled in Beijing in December. The focus will be on long-term issues but they will also discuss steps that could contribute to a less volatile oil market in the near term, the FT reported Tuesday.
The U.S. would like China to clarify that its strategic reserves exist to deal with disruptions to supply, and will not be used to try to manage the oil price. U.S. officials think more reliable information on Chinese stockpiles could help moderate oil market volatility, the FT added."

this is very hard to believe...