Sunday, March 6, 2011

Price of Oil - Here we go again (Part II)

Quoting my post dated 1/7/11:
“We may see the price of oil spike sometime during the current quarter.”
The prediction came true:
Click the image to enlarge it
Data source: A screenshot captured from this page.
A screenshot from this Bloomberg page is consistent.
EIA data are also consistent.

Demand continues to exceed supply.
Ergo, prices are set to soar far higher.
A double dip recession is possible:

Click the image to enlarge it
Data source: IEA report dated 2/10/11.
Note that prices are now above $100 and at the recession threshold.
Useful discussion found in the above link just above the image.

The solution?
1) Vote the Dims out of power.
2) Develop our vast domestic resources

Click the image & examine the facts:
Click the image & examine the facts

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