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[Fot] Oil - Since Triumphs Drip, Its Worth A Minute To Read

To: fot@autox.team.net
Subject: [Fot] Oil - Since Triumphs Drip, Its Worth A Minute To Read
From: Group44TR7@aol.com
Date: Wed, 4 Jun 2008 11:43:27 EDT
Amici
 
        One of my colleagues and friends is Jim William of WTRG Economics 
(_www.wtrg.com_ (http://www.wtrg.com) ). Jim is one of this countries foremost 
experts on oil pricing. 
 
        Jim was very surprised when oil prices went soaring above $100. There 
is simply not a worldwide demand (or shortage) of oil to justify that price. 
Certainly the depreciation of the value of US dollar was a factor, but it 
alone was not a good explanation why oil was above even $60 per barrel. Now an 
explanation is emerging that may impact many of you.
 
        Apparently, the increase in prices are due to more pension and 
investment fund investing in the commodities market. Yup, your very own 
investment 
and pension fund may have contracted to buy oil at $130 per barrel. These funds 
now are holding about 1/3 of the commodity paper for oil futures when they 
previous held virtually none. 
 
        If you think about what the recession is going to do to the demand 
for oil, these funds are in a high risk position. So you might want to check 
where your investment fund has its money; apparently even some of the large 
public employee pension funds have taken positions. Seems like the investment 
firms 
debacle in mortgages is about to be followed by a debacle in oil futures. Of 
course, it their investors moneys. 
 
        Jim had just finished an interview with Fox Business News this 
morning on this very subject, so if you watch the chanel you may hear him in 
person. 
Not a big Fox fan, but this time they have a real expert. 
 
Cary
 
       
 
                



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