I know we are all very preoccupied with Bolt's 9.69 sec 100m, and how many chicken sandwiches Phelps eats for breakfast and other trivia that makes a whole lot of difference in our lives. So, i am almost feeling guilty about posting this link for you to read and well..think.
Men are so tiresome. They never pay attention when you say "I need to talk". I mean just the other day, I had something of great importance to discuss with Dad. So, I sat down next to him on the couch while he was watching TV, Me : "Dad, I need your honest feedback. Are you listening? Dad [with full attention]: "Yeah what is it?" Me : "Well this thought has been troubling me for a bit, for a while actually. You know, like I am so totally in a dilemma. You could actually say its a sorta like a conundrum, but then its kinda bizarre. But whatever. I mean, I have been seriously thinking that I shouldn't do it. But then there are various reasons why I haven't totally written it off yet……[noticing that Dad's eyes were wavering back to the TV, so poking him] Dad are you listening ? Dad [guiltily]: Yeah. Something is bothering you. Me: Yeah so I was wondering if I should blah…blah…blah…yada...yada...yada. So you tell me, should I get my...
Comments
for one, if prices were artificially inflated, shouldn't that show up in decreasing consumption? i.e oil inventories should be higher because people start buying less oil.. that doesn't seem to be happening.
also the common view among a lot of people in the 'know' (by this i mean the extremely erudite cabdrivers in singapore who advise me on everything from property investments to whether or not to support Chiru's new party)is that oil price rise is mostly due to the loss in dollar value. Simply, it just costs a lot more dollars now to buy oil.
things go bad, everyone blames wall st. things are good, everyone blames wall st. bah!
Thus, I now have to believe the other theory that says significant part of the increase can be attributed to the downturn in US economy (led by mortgage crisis) which led fed to take steps that lowered the dollar value.
I guess the democratic primary contenders contributed significantly to this theory with their objective of sounding pro-poor, they never seemed to have talked on how much (according to their theory) would the oil prices come down if those speculators can be reined in. Also, the oil producers goal is to maximize the profit from the oil, it happens at optimal price, a price higher than this would lower demand significant enough resulting in lower overall profit.