Wednesday, August 18, 2004
Crystal Ball Update:
Crude Settles Near $47 Level
Oops, for a day or so I thought I'd misgauged the markets. Chavez's survival in the Venezuelan recall didn't rattle things up like I thought it would, but none-the-less, the markets are still pointing up, up, up. Yes, prices aren't at Historic highs yet, but as reported in the link below, prices are fast approaching the threshold of the first oil shock of 1974.
It will be interesting to see how long it will take for these high energy prices to trickle down into consumer prices. Gasoline prices and inflation fell last month, but I'm guessing that's because a lot of companies locked in prices or hedged on energy costs. But you can't dodge the price hikes forever.
http://www.foxnews.com/story/0,2933,129205,00.html
Oops, for a day or so I thought I'd misgauged the markets. Chavez's survival in the Venezuelan recall didn't rattle things up like I thought it would, but none-the-less, the markets are still pointing up, up, up. Yes, prices aren't at Historic highs yet, but as reported in the link below, prices are fast approaching the threshold of the first oil shock of 1974.
It will be interesting to see how long it will take for these high energy prices to trickle down into consumer prices. Gasoline prices and inflation fell last month, but I'm guessing that's because a lot of companies locked in prices or hedged on energy costs. But you can't dodge the price hikes forever.
http://www.foxnews.com/story/0,2933,129205,00.html
