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Oil Opinions; Pure Conjecture
Posted on 01/11/2007 08:12:00 | Link | Post Comment
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Everyone has an opinion, and I respect all reasonable opinions. The latest opinions on oil however seem to be based more on conjecture than cold hard facts.
Here is an article written by William Trent from Seeking Alpha. I like a guy who checks his emotions at the door and just gives us the facts.
As I mention yesterday, oil inventories continue to decline. I don't know why, and I don't know who, but we do know someone is buying. I could care less about the build in gasoline and heating oil inventories, I am more interested in the significant drawdown in crude oil.
By now, you have probably heard that a US submarine has collided with a Japanese tanker near the Straits of Hormuz. Pat Buchanan weighs in with this article about Israel's preparation for a strike against Iran's nuclear facilities.
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