CRUDE OIL CHARTS SHOW A SYSTEMATIC AND A PROGRAMMED RISE IN OIL PRICES SINCE JANUARY
From Reliapundit at the Astute Bloggers:
- A BARREL OF CRUDE HAS GONE UP 50% SINCE JANUARY.
- NOTHING ELSE HAS.
- AND THE DOLLAR HAS OT GONE DOWN 50% IN RELATION TO ANY CURRENCY.
- SO WHY - WITH DEMAND FALLING - IS OIL BECOMING MORE EXPENSIVE?
THE HUGE RUN-UP IN PRICES BEGAN WHEN THE YEAR BEGAN - AS THE SURGE HAS CALMED IRAQ AND AS OIL DEMAND ACTUALLY DECREASED GLOBALLY.
THE FIRST WEEK OF EACH MONTH IS WHEN THE PRICE OF CRUDE JUMPS TO A DEGREE WAY UT OF PROPORTION FOR THE REST OF THE MONTH.
Since January, there has been no "news" which justifies the enormous increase in the price of crude oil.
There is no "news" in the first week of each month for that last six months which is responsible for the increase in the price of crude oil which occurs - like clockwork.
I think this shows that the run-up in the price of oil is the result of a programmed effort to run-up the price - perhaps funded by OPEC as much as by fund managers with hedge-programs which tell them to switch from stocks when they decline and into commodities, especially oil (especially when it rises!) ---- a self-fulfilling prophecy.
The make these huge stock sales and then huge oil buys in the first week of each month - and this sets the tome for the rest of the month - makes the prophecy and fulfills it.
Go read the whole thing. Reliapundit has a series of charts which show the results.
I was also interested in this comment:
If you constrain the ability to ship crude oil, you raise the price of oil. Iran has corralled about a dozen VLCC off their coast, each full of oil, and each just riding at anchor. No ships, no delivery -- yields high crude oil prices.
There are not a lot of VLCC just sitting idle in the world, it takes just a few not working to constrain supply.
We now learn that Venezuela and Cuba are supplying help in idling the VLCCs and in funding the terrorist.I think Iran is testing the waters.
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