Well, It was not in the cards for the Prez & the Dems to do it quietly, they needed to give Al Gore a lift, front page news, saving the US gasoline consumer, media hype and all the b/s that goes with it, the only problem is, judging from the current polls, it is backfiring. I think they made a big error, both with the Euro intervention & with the supposed release of strategic reserves, and I still haven't heard that any of that thick tar oil has been transferred anywhere, no refiner wants that stuff, much too gunky and costly to crack into gasoline and diesel. >besides, many refiners are heavy into futures, and they are probably refining $27-30 oil< So another bunch of b/s on a massive scale.
Also, I shorted the SPX when I saw it starting to head towards the zero line. This market is so weak I am surprised it is holding as well as it is this minute. |
