Leigh, you may be correct, but the information you are providing does not really show much. When oil fell to $20 dollar a barrel some time ago, what did that prove?
If this is the way the debate will proceed, I was wrong to give it a reprive. On Wed, Sep 12, 2007 at 01:22:20PM -0700, The Buffalo In Da' Midst wrote: > On 9/11/07, sartesian <[EMAIL PROTECTED]> wrote: > > > Tell ya Leigh, check the rearview mirror... > > > > So, that's proof that they aren't right this time? > Two closely spaced data points? > > Do you hold the oil suppliers, or anyone else for that matter, to > those same tight standards of 'proof of theory'? > > Here's your rearview, and what's in it is pulling up on you fast. Must > be one of those new Toyota LandMovers with the BIG V-8: Gotta give the > suave, sophisticated Western-Industrial consumer (including their > adorable self-effacing 'left-consumers') what they 'want' ya know... > > Oil hits record on supply fears > Prices have been above $70 for much of the past year > > Oil prices have risen above $80 a barrel for the first time, a day > after Opec moved to boost its output of crude in an effort to ease > cost pressures. > > US light, sweet crude surpassed the landmark level before closing > slightly lower at $79.91. > > Opec members said they would raise production by 500,000 barrels a day > but some analysts have said the move is little more than a token > gesture. > > Figures also showed a sharp decrease in US crude stockpiles last week. > . > . > . > ...It had been expected that Opec's move would eventually depress > prices and that this could help ease recent US economic and global > stock market jitters. > [...] > > <http://news.bbc.co.uk/2/hi/business/6991567.stm> > > > Keep waiting. > > Leigh -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail michael at ecst.csuchico.edu michaelperelman.wordpress.com
