Eugene David ...The One-Minute Pundit |
|
Monday, August 07, 2006
The world's friendliest oil company, BP, is shutting down Prudhoe Bay for extended maintenance, and the wolves are out:
A 400,000-barrel per day reduction in output would have a major impact on oil prices, said Tetsu Emori, chief commodities strategist at Mitsui Bussan Futures in Tokyo. ""OIL PRICES COULD INCREASE BY AS MUCH AS $10 PER BARREL GIVEN THE CURRENT ENVIRONMENT!!!!!!!!!!" Emori said. [Overemphasis added.] Such folks are as unhappy as GREG when he discovers a WAR CRIME. On the other hand: Victor Shum, an energy analyst with Purvin & Gertz in Singapore, said he expected the impact to be minimal. "The U.S. market is actually well-supplied; crude inventories are very high," he said. Honest...we expect financial sales -- ANALYSTS to be honest?
|