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WTI Passes $109

Tyler Durden's picture


WTI surges courtesy of a disastrous UK economic update, and expected ECB tightening. Oh wait... That must mean QE3....No....That's impossible. The San Francisco Fed said just this Monday that there is no correlation between monetization and surging commodity prices. And stocks surge just because in Weimar America, $109 crude is bullish for stocks. This will end in tears.

And in the meantime in Europe...


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Wed, 04/06/2011 - 10:09 | 1140533 vast-dom
vast-dom's picture

No inflation right Ackman? Sheesh....

Wed, 04/06/2011 - 10:12 | 1140553 goldfish1
goldfish1's picture

Forewarned is forearmed?

Wed, 04/06/2011 - 10:32 | 1140686 Turd Ferguson
Wed, 04/06/2011 - 11:24 | 1141037 the mad hatter
the mad hatter's picture

The military expedition in Libya was just to warn our old buddy Gaddafi to sell us is light sweet oil for cheap and respect the multinational oil corporations.

It was a message: do it or we'll turn you into another Saddam.

Neither side wants to end up dead or in an extremist quagmire. That's why we're pulling out.

Wed, 04/06/2011 - 10:12 | 1140539 Flakmeister
Flakmeister's picture

 Where are those guys that were trying to convince me that oil was a screaming short?

Wed, 04/06/2011 - 10:15 | 1140560 Snidley Whipsnae
Snidley Whipsnae's picture

Short oil with summer driving season approaching? Not to mention that the Mid East's hair is on fire?

Wed, 04/06/2011 - 10:19 | 1140586 Flakmeister
Flakmeister's picture

Check out the exchange here on Monday:

Can you believe that I was accused of talking my book? Hilaripus

Wed, 04/06/2011 - 10:31 | 1140667 Snidley Whipsnae
Snidley Whipsnae's picture

"For example, often times traders know that a large base of positions have to be rolled over, so they close out their positions, and wait for the selling to end before then buying the next month`s contract to keep their original bias in the market. Some traders even short the market at the same time they are closing out their original longs because they know that a large roll of longs will be closed out, so they piggy back on the rollover for additional profits. This is oftentimes why you experience 4 or 5 days of weakness due to the selling, and shorts piggybacking on the rollover, with two days of strength in the expiring contract as the shorts have to go long to close out their positions before the contract expires."

Yes, common practice in many commodities. 

Wed, 04/06/2011 - 10:36 | 1140698 Flakmeister
Flakmeister's picture

Check out the chart on the rollover effect for the past 9 months in WTI ...I don;t have it handy, but there was one floating around at seekingalpha

Wed, 04/06/2011 - 10:38 | 1140716 Spalding_Smailes
Spalding_Smailes's picture

Flak -


You must admit, you did not know the middle east was going to have issues when oil was under $95. Thats really what's driving this run up.

Wed, 04/06/2011 - 11:01 | 1140878 Burnbright
Burnbright's picture

Turmoil in middle east is due to inflation. You can keep denying it but its the truth.

Wed, 04/06/2011 - 11:03 | 1140898 tmosley
tmosley's picture


"Nobody could have seen it coming" except for those who did.  Some fools don't know snakes from dildos about economics.  Funny that they are universally the ones telling us all is well.

Wed, 04/06/2011 - 20:30 | 1143491 Flakmeister
Flakmeister's picture

I reply to you, but this is meant for everyone. How the fuck can anyon be an Au/Ag advocate and not be an oil bull? I trade the cash flows...

  Any thing that drives down the price of oil will also affect PMs...

Wed, 04/06/2011 - 11:08 | 1140919 SteveNYC
SteveNYC's picture

All roads really do lead to the Bernank.

Wed, 04/06/2011 - 11:19 | 1141010 Urban Redneck
Urban Redneck's picture

The Cushing glut serves a purpose - it allows the US media to talk about 110 oil instead of 125.  As an added bonus, some dumb spec trader caught holding the paper on expiration day can lead to a $10-20 drop in closing price, which the media will jump on during the evening news, before the price print is magically erased at midnight, just like in that other fairy tale.

Wed, 04/06/2011 - 13:35 | 1141769 baby_BLYTHE
baby_BLYTHE's picture

I was just browsing Banzai's website and came across this gem (must have missed it when it was posted on ZH)

Needless to say, My keyboard is now drenched with my afternoon latte :]

My co-workers have been complaining about gas prices... I told them, welcome to world wide Benocide!

Wed, 04/06/2011 - 10:30 | 1140670 nonclaim
nonclaim's picture

Just before the driving season, look out for the pre-season show of burst pipelines, refinery "scheduled maintenance" shutdown and fire and small explosions in the other ones. All unforeseen events, of course.

Wed, 04/06/2011 - 10:15 | 1140578 vast-dom
vast-dom's picture

PAtience FlakMan -- there will be a great opportunity to short oil....timing is central obsession.

Wed, 04/06/2011 - 10:21 | 1140603 Note to self
Note to self's picture

Oil price goes two steps up, one step back

in concert with GDP which goes one step up, two steps back

till the oil is gone


Wed, 04/06/2011 - 10:23 | 1140627 vast-dom
vast-dom's picture

not if you do a DOUBLE SHORT ;)

Wed, 04/06/2011 - 10:40 | 1140753 gordengeko
gordengeko's picture

Right.  Why is DTO moving northward when crude is up 108 to 109?

Wed, 04/06/2011 - 10:21 | 1140619 Sudden Debt
Sudden Debt's picture

2 one thousand

3 one thousand

4 one thousand


time of death 10 o'clock...



Wed, 04/06/2011 - 10:39 | 1140739 Homey Da Clown
Homey Da Clown's picture

SD, curious. Are you the same chap with the Sudden Debt blog? If so, good stuff.

Wed, 04/06/2011 - 10:45 | 1140787 Cash_is_Trash
Cash_is_Trash's picture

In person, Sudden Debt has the ability to speak in CAPITAL BOLD LETTERS


Wed, 04/06/2011 - 10:34 | 1140694 tmosley
tmosley's picture

Shorting anything in this market is the mark of a true madman.  If someone tells you to short something, ANYTHING, in terms of dollars, you can most likely write them off as insane, stupid, or both.

Wed, 04/06/2011 - 10:35 | 1140704 Flakmeister
Flakmeister's picture

Well maybe bonds and the inverse PM ETFs (if you can find some to short)

Wed, 04/06/2011 - 11:09 | 1140930 tmosley
tmosley's picture

Not even those.  If the ETF's are found to be fraudulent, they will go to zero.

This is why a nice bet is to  short GLD or SLV, and go long physical metal.  Unfortunately, in practice, they won't let you take delivery of the bullion you bought with the proceeds of your short, which means a LOT of extra risk, as any custodian is likely to screw you over, charge you for storage on non-existent bullion, and then go bankrupt before you can get your metal.  

Wed, 04/06/2011 - 10:47 | 1140789 SheepDog-One
SheepDog-One's picture

He's down below, named 'RainBowTrader' or something.

Wed, 04/06/2011 - 10:13 | 1140558 HamyWanger
HamyWanger's picture

No matter what bigoted Ron Paul-worshipper, anti-Federal Reserve, anti-State libertarians say, the global economic recovery is on the march, and nothing will stop it. 

Wed, 04/06/2011 - 10:20 | 1140596 Robot Traders Mom
Robot Traders Mom's picture

When the SHTF, tell your old lady to come shack up with me. If your lucky, we'll come visit you and I'll throw you some pieces of bread like I do with the birds.


Wed, 04/06/2011 - 10:25 | 1140636 Cindy_Dies_In_T...
Cindy_Dies_In_The_End's picture

dude, Hamy is a comical farce on purpose. You should laugh.

Wed, 04/06/2011 - 10:36 | 1140710 Robot Traders Mom
Robot Traders Mom's picture

No, he's not funny.

Wed, 04/06/2011 - 10:41 | 1140752 DeadFred
DeadFred's picture

Can't you tell she's not a dude?  Look at her cute icon.  Even if she is expressing lesbian tendencies we shouldn't judge.

Wed, 04/06/2011 - 11:08 | 1140935 SteveNYC
SteveNYC's picture

Was that the personality behind RT's Mum, or RT's Mum wanting to shack up with a chick? Interesting, either way....

Wed, 04/06/2011 - 10:15 | 1140561 EZYJET PILOT
EZYJET PILOT's picture

Tears are already being shed, just ask the Libyans. QE3 roundabout September I reckon. By this stage oil will be upwards of $150 a barrel, Syria would have been engaged with Iran on the targets, not to mention the fallout of Fukoshima impacting the economy. By this time Bernanke will turnaround and say it is necessary for the survival of the global economy, we all know what he really means however.

Wed, 04/06/2011 - 10:14 | 1140566 Stuart
Stuart's picture

what else could they say, really.  They have no choice but cannot admit it, ever. 

Wed, 04/06/2011 - 10:14 | 1140567 Dick Darlington
Dick Darlington's picture

The coming economic and financial collapse will be something never seen before. Every ponzi scheme comes to an end and this one will make no exception.

Wed, 04/06/2011 - 10:18 | 1140579 Ben Probanke
Ben Probanke's picture

wti futures not good reference for crude price in the US and cant compare to 2008 since WTI now trading at deep discount to US Gulf crude oil. LLS in the gulf is at 125.50 $/bbl...

Wed, 04/06/2011 - 10:18 | 1140582 DonnieD
DonnieD's picture

This price surge in oil is purely due to sophisticated driving habits of developing countries.

Wed, 04/06/2011 - 10:20 | 1140592 Flakmeister
Flakmeister's picture

Nice....I have to file this one

Wed, 04/06/2011 - 10:32 | 1140676 falak pema
falak pema's picture

'humming' my way to death...killing me softly...

Wed, 04/06/2011 - 10:34 | 1140699 Snidley Whipsnae
Snidley Whipsnae's picture

lol... SA Princes drive big Mercedes everywhere at ~ 80mph, stopping at no stop signs. Consequently they are being eliminated from the gene pool rapidly.

Wed, 04/06/2011 - 11:13 | 1140962 EscapeKey
EscapeKey's picture

Yeah God damn those fearmongers called the 'IEA''.

The International Energy Agency(IEA) says production of conventional crude oil peaked in 2006

Open your eyes, we're hitting peak as we speak.

Wed, 04/06/2011 - 10:18 | 1140593 dogismyth
dogismyth's picture

good gravy....sounds like a bunch of women in a room with a single small mouse.   Yeah, its all over folks...pull the trigger NOW!

Wed, 04/06/2011 - 10:22 | 1140600 Cdad
Cdad's picture

And equities are up...why?  Again, did I miss something this morning?  Silver @ 31 year high, gold @ nominal all time high, oil @ about a three year high...with gasoline trending ahead of the oil slope this time....again. why is the equity market higher?

It must be the good news at Fukushima...right?  I heard they plugged a crack in a pool.

It must be all the good economic data our of the auction of Portuguese debt which was "successful" in the words of the BlowHorn [yep, that is a quote].  Or stagflation confirmed?

It must be US housing?  Collapsing orders in China?  Maybe E. Burnett is just really ramping the adorableness factor?  Everything is running on UnicornDew power?  'Cause Cramer pointed out the completely farcical moves stocks have been making...and then deduced that this signaled that farcical things would continue?

It must be stability in Egypt, Syria, Yemen.

Again, why is the equity market up?   

...oh...I know...the just released news that cash is pouring OUT OF long ETFs?

...wait...I know...that tons of people HAVE TO SELL Apple?

Wed, 04/06/2011 - 10:35 | 1140709 Snidley Whipsnae
Snidley Whipsnae's picture


Wed, 04/06/2011 - 10:38 | 1140719 Rikki-Tikki-Tavi
Rikki-Tikki-Tavi's picture

technically equities are only up in fiat terms - in gold terms they are down. I prefer to think that the market reach peak irrationality shortly before it corrects.

Wed, 04/06/2011 - 10:39 | 1140737 Hedgetard55
Hedgetard55's picture

DOW is about where it was at the beginning of 2007.


Silver has roughly tripled in price from that same time.


Priced in dollars, DOW is flat. Priced in true money, silver, DOW has fallen to a third of what it was, in real terms.

Wed, 04/06/2011 - 10:20 | 1140612 writingsonthewall
writingsonthewall's picture

TD - can you clarify something - when you say "this will end in tears" - do you mean


a) Tears from the eyes as the world gets upset at another crisis which it was 'promised' by 'lying politicians' would not happen again.

b) Tears of shredded paper as FIAT currency is torn up and burnt


The people need to know these things, will it be hanky's or wheelbarrows at dawn?

Wed, 04/06/2011 - 10:46 | 1140783 SheepDog-One
SheepDog-One's picture

Tears from the smoke of up in flames fiat.

Wed, 04/06/2011 - 10:48 | 1140804 Cash_is_Trash
Cash_is_Trash's picture

The French Assignats were burned:

Wed, 04/06/2011 - 10:22 | 1140616 razorthin
razorthin's picture

They are holding XLF at the 50 day MA.  Major resistance.  If they can't pop it through, the rally is over for the short term.  Surging oil will not help it's prospects.

Wed, 04/06/2011 - 10:41 | 1140740 dogismyth
dogismyth's picture

well, maybe you should follow the DJUSFN.  It has been sitting ABOVE the 50dma for several days.

Wed, 04/06/2011 - 10:46 | 1140780 razorthin
razorthin's picture

Rounding error.  They both need to bust out.

Wed, 04/06/2011 - 10:22 | 1140624 gigeze787
gigeze787's picture

A. Joseph Cohen on CNBC this morning, pimping for Bernanke (which is equivalent to GS). Her spin: "focus on fundamentals" (YGBSM) in equity investments for the long term, and inflation is only "modest."

Translation: Bernanke is going to have to dump the stock market in the short term to crush to gold/silver/oil trade.

So, is GS (prop) now betting on an early end to QE2?

Wed, 04/06/2011 - 10:27 | 1140649 Cindy_Dies_In_T...
Cindy_Dies_In_The_End's picture

I don't think that will work as much as they might hope.

Wed, 04/06/2011 - 10:40 | 1140735 Snidley Whipsnae
Snidley Whipsnae's picture

If Ben thought it would work well he would have already tried it. Ben's problem is that PMs and oil are now slipping away from dollar control. Think about it.

Wed, 04/06/2011 - 10:40 | 1140727 Sandy15
Sandy15's picture

Since March 2009 The Bernack has had to crash the stock market to bring down gold/silver/oil trade.

The more he digitizes/prints, the more commodities go up.

Wed, 04/06/2011 - 10:28 | 1140640 Temporis
Temporis's picture

Ok this is weird... look where oil was 3 years ago... 1 day off from today.


Pulled this from MW archive. Is history repeating itself? Crash in September again?

Wed, 04/06/2011 - 10:26 | 1140643 Homey Da Clown
Homey Da Clown's picture

In an unrelated note, Denninger mentions ZH



Wed, 04/06/2011 - 10:45 | 1140768 Ruffcut
Ruffcut's picture

who cares if doofinger mentions ZH. long winded worthless opinions.

Wed, 04/06/2011 - 10:49 | 1140815 SheepDog-One
SheepDog-One's picture

Except someday soon, he'll have been right all along. Get it?

Wed, 04/06/2011 - 10:53 | 1140828 Snidley Whipsnae
Snidley Whipsnae's picture

KD 'borrows' posts of others without attribution...

Wed, 04/06/2011 - 10:26 | 1140644 samsara
samsara's picture

Like theGreatPonzi said in the $40 silver thread.


"It's not gold and silver which worry Bernanke right now, but WTI crude, which is at the highest level since september 2008.

His worst nightmare is coming to reality. "

Wed, 04/06/2011 - 10:34 | 1140684 SheepDog-One
SheepDog-One's picture

Good! Our only chance of survival is Bernankes demise!

Wed, 04/06/2011 - 10:42 | 1140706 falak pema
falak pema's picture

His worst night mare comes true when Blythe climbs into bed with him and says..."take me to the moon, this is getting too hot for me on earth, we're two of a kind"...QE-inifinty will really rocket then! Can't say "no" to dame like that, even if it means...deep core melt down into oblivion! Wake up time! Benocide!

Wed, 04/06/2011 - 10:28 | 1140655 Cash_is_Trash
Cash_is_Trash's picture

401(k) tears?

Wed, 04/06/2011 - 10:40 | 1140747 SheepDog-One
SheepDog-One's picture

There will be no warning. I love looking at history, for instance Google 'DOW plunges 777 points' and read the articles from that day...quotes of 'totaly unexpected', 'shocking', 'caught all expert analysts totaly by surprise' thruout those stories.

If people are waiting for the pre-plunge announcement this time, it will again catch them totaly unaware, and probably on a soothing uptick as well.'

Wed, 04/06/2011 - 11:49 | 1141216 glenlloyd
glenlloyd's picture

And ironically everyone (save for ZH) still cares and listens to what these boobs have to say....that's what's shocking, that these people haven't been disgraced and put out to pasture.

These are the same comments we'll hear when the next plunge comes.

Wed, 04/06/2011 - 10:29 | 1140665 dogismyth
dogismyth's picture

here's some free advice.  Ignore the fucking news.  Its either a lie or the twisted truth.  Either way, it really doesn't matter when trading from the charts.  All it does is fuck up your head enough so you'll pull the trigger on a trade to early or late.  Maybe if we ignore them, they'll go away and STFU.

Wed, 04/06/2011 - 10:35 | 1140690 SheepDog-One
SheepDog-One's picture

'Trading from the charts'?


Wed, 04/06/2011 - 12:48 | 1141501 TheGreatPonzi
TheGreatPonzi's picture

Technical analysis is a sect destined to dumb and naive people, a bit like Scientology.  

It has gained traction in the 2000s to attract retail liquidity to the futures markets, despite being supported by no facts at all (and being neither refutable nor provable, because if you deny technical analysis, technical analysts will just say you're not enough experienced/intelligent to understand it).  

Wed, 04/06/2011 - 10:32 | 1140687 bob_dabolina
bob_dabolina's picture

Thiz iz fuggin hilariouz.

Wed, 04/06/2011 - 10:34 | 1140689 RobotTrader
RobotTrader's picture

Possible key outside reversal day on OIH.

Maybe crude has finally topped out?

Wed, 04/06/2011 - 10:36 | 1140697 SheepDog-One
SheepDog-One's picture

RIGHT! Now crude will go lower because all is well or something. 

Wed, 04/06/2011 - 10:36 | 1140700 Internet Tough Guy
Internet Tough Guy's picture

Crude oil pole-axed on inventory "glut"
RobotTrader - Wed, Mar 30, 2011 - 10:34 AM

Once again, the Peak Oilers were foiled again.

Looks like the long specs are finally running for the hills

Wed, 04/06/2011 - 10:38 | 1140714 SheepDog-One
SheepDog-One's picture

Yea right...wait till you see the oil chart when Saudis, Iran, and Israel throw down pretty soon.  $300 barrel overnite.

Wed, 04/06/2011 - 10:46 | 1140798 lieutenantjohnchard
lieutenantjohnchard's picture

another michael jordan leap from the free throw line, backboard shaking slam dunk from itg.

Wed, 04/06/2011 - 10:43 | 1140721 razorthin
razorthin's picture

Or refeuling.  Look look for a lower low.  Must break 164.30.  200 (15) MA looks like springboard.  Textbook cup with handle on daily.

Wed, 04/06/2011 - 11:03 | 1140884 razorthin
razorthin's picture

It's officially over.  Good call.  And all while the $US continues to tank.  These coxxukkers are amazing.

Wed, 04/06/2011 - 10:38 | 1140728 RobotTrader
RobotTrader's picture

OIH and XLE at LOD......

USO has been going straight down since the inventory glut was announced this morning.

Wed, 04/06/2011 - 10:43 | 1140770 lieutenantjohnchard
lieutenantjohnchard's picture

fool, uso is up for the day. do you really believe folks don't fact check your braying donkey remarks? uso is currently trading above its 52 week high.

btw: jim sinclair eagerly awaits a call from you to school him on investing?

Wed, 04/06/2011 - 10:48 | 1140805 Ruffcut
Ruffcut's picture

But gas supplies are down.

Make less gas, store more oil. Lower barrel price and collect more at the pump.


Wed, 04/06/2011 - 10:41 | 1140741 Yen Cross
Yen Cross's picture

I shorted WTI going into Europe and picked up 40 cents. Then blew out of it. This freaking  speculation is a joke. Look at cushing supplies!

Wed, 04/06/2011 - 10:50 | 1140822 Rikki-Tikki-Tavi
Rikki-Tikki-Tavi's picture

but equities are going up because everything is great (and not nasty speculation)?

Wed, 04/06/2011 - 11:00 | 1140863 Yen Cross
Yen Cross's picture

At this rate I'll be eating pizza flavored Cheerios for dinner, in an Italian restuarant lit with candles made from earwax.

Wed, 04/06/2011 - 10:40 | 1140744 falak pema
falak pema's picture

The Cushing glut should call the tune on a WTI backwardian...unless this is inversed contango dance time...I think I'll take up Venezuelan citizenship!

Wed, 04/06/2011 - 10:40 | 1140745 alien-IQ
alien-IQ's picture

As of 9:30am, as usual, the USD begins it's daily plunge into the abyss...but no doubt this has nothing to do with oil prices....or gold...or silver...or corn...or cotton...

Wed, 04/06/2011 - 10:42 | 1140765 SheepDog-One
SheepDog-One's picture

These people looking at fundamentals like supply, demand, and storage and technical charts are in for a rude awakening soon. Purely a war and dollar plunge cause-effect. 

Wed, 04/06/2011 - 10:45 | 1140777 alien-IQ
alien-IQ's picture


Wed, 04/06/2011 - 10:50 | 1140810 Yen Cross
Yen Cross's picture

Purely, like throwing darts with the lights turned off!

Wed, 04/06/2011 - 10:45 | 1140772 Snidley Whipsnae
Snidley Whipsnae's picture

And Euro straight up since ~ 9:30am...

Wed, 04/06/2011 - 10:53 | 1140832 razorthin
razorthin's picture

Here comes the Bernanke Call

Wed, 04/06/2011 - 10:56 | 1140846 Snidley Whipsnae
Snidley Whipsnae's picture

Watching a castle in the sky collapse is entertaining...if I am not living in it...

Wed, 04/06/2011 - 11:05 | 1140899 99er
Wed, 04/06/2011 - 11:13 | 1140958 gordengeko
gordengeko's picture

I agree, that is a pretty wedge!  What charting software do you use, I like your charts.

Wed, 04/06/2011 - 11:18 | 1140990 Yen Cross
Yen Cross's picture

Hey Gordo. Learn to draw a TrendLine!

Wed, 04/06/2011 - 11:27 | 1141073 gordengeko
gordengeko's picture

?  I use IQC but not fond of it.

Wed, 04/06/2011 - 11:17 | 1141001 Atomizer
Atomizer's picture

Gates, Saudi King Discuss Defense Relationship

Wed, 04/06/2011 - 11:46 | 1141186 Urban Redneck
Urban Redneck's picture

So Gates has an open invitation, and his boss can't even get someone to answer the phone.

Wed, 04/06/2011 - 11:40 | 1141156 nah
nah's picture

come'on 7's baby

Wed, 04/06/2011 - 12:15 | 1141344 ak_khanna
ak_khanna's picture

The stock, commodity and currency exchanges have been reduced to gambling dens whereby the more powerful traders with deep pockets move the markets to maximize their own profits at the expense of the remaining not so powerful players. The big boys have enormous money power to move the markets in the direction which results in maximum profits for themselves. They effectively use the media to lure the other players in the market to a position where they would incur maximum loss.

The markets will fall only when the banksters have eliminated all the short positions and only they themselves have positioned themselves to profit when the market falls


When an unexpected world event catches the banksters with their pants down and the softwares they use to rig the markets go berserk beyond their control.

Wed, 04/06/2011 - 12:23 | 1141376 CrashisOptimistic
CrashisOptimistic's picture

A thread filled with conversation about what etf is doing what or will do what.

Not a word about what happens as old fields like Canterell die.  At the ripe old age of . . . 30.  Just 30 years after production started and it's dying.  And just 8 years after peak of 2.1 mbpd in 2003.  It was 460K bpd at the end of 2010.  Freefall.

Look.  For your own good.  All of you.  Forget the market for 20 minutes and go read about Canterell.

Your future is there.  It explains more or less everything in an extrapolative sense.  Mexico's horrific future is explained by it.  It is what is ahead for each one of you.



Wed, 04/06/2011 - 12:47 | 1141497 Buyemall
Buyemall's picture

"the expected ecb tightening"...

Is there any indication whatsoever that it might not happen tomorrow?

any insight welcome

Wed, 04/06/2011 - 16:24 | 1142598 ivars
ivars's picture

As it should have done during early April, according to my shock long term impact based pattern analysis which resulted in this forecast on Febryuary 6th.


This time, Brent will reach 125-130 USD before going down, probably, because Libyan question will be resolved soon. But there are more supply disruptions to come, so average growth of Brent this year to 145-160 in Q4 2011 will be enough to put the USA into recession in q1 2012 ( when oil will still continue to grow to Brent 180-200USD)

Wed, 04/06/2011 - 17:54 | 1142898 Jim B
Jim B's picture

UM UM UM, Nobama gas!

Drill nowhere, nohow, notime!  

LOL, Nobama is actually hurting his core constituancy the worse, the poor! LOL

But, wait there will probably be a USDA/JPM gasoline EBT card issued any day now!

Do NOT follow this link or you will be banned from the site!