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Politics : Dutch Central Bank Sale Announcement Imminent?
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To: philv who wrote (20901)5/8/2004 2:48:52 PM
From: philv  Read Replies (1) of 81130
 
Oil is the single most important commodity, and everything we can buy has a oil price component to it. If oil prices don't soon decline, or if they should keep climbing from here, it is not a stretch to predict massive inflation. The confusion of course is all the talk from the Saudis who are "selflessly" trying hard to keep the price down to below $30/bbl. Of course, they, like all the other countries exporting to the US, don't want to kill the golden goose. The Saudi investments in US corporations and government debt is enormous, and they will do what they can to prop up the system. But strangely, oil prices worldwide are not declining.

Perhaps exporting all those manufacturing jobs now to China, especially those relying on high energy consumption such as the steel industry is not such a bad idea after all. Let somebody else fight the high costs, and import oil and raw materials. Obviously these industries can't survive in high cost environments. Besides, the US needs to conserve oil for far more important functions like the military.

I have just listened to the second half of Puplava. He has a guest talking mainly about oil, and if his predictions are only one half correct, we are in big kaa kaa.

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