[lit-ideas] Oil Prices

  • From: Andy <mimi.erva@xxxxxxxxx>
  • To: lit-ideas <lit-ideas@xxxxxxxxxxxxx>
  • Date: Thu, 1 May 2008 07:43:32 -0700 (PDT)

Oil prices were up to nearly $120 a barrel and are now
trading at around $112 a barrel.  T.Boone Pickens lost
20% of his hedge fund betting prices would go down
because of the recession, and prices went up, then he
bet prices would go up and they're coming down.  He's
now investing in wind farms.  The below is only the
oil trading price link.  I heard in a discussion that
for every decrease in one barrel of oil use by the
U.S., there's a 14 barrel increase in use by the rest
of the world.  That doesn't explain why prices are
coming down. Maybe it's just good news?   

http://www.bloomberg.com/markets/commodities/energyprices.html


      
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