Posted by rrlund on February 23, 2011 at 15:42:06 from (207.241.137.116):
In Reply to: OT Gas Prices posted by Tony Vidlak Sr. on February 23, 2011 at 15:21:09:
Relax. That's the news media's job. Get you to panic so you'll tune in to the next newscast. Some analysts I heard today said they think Ghadafi will be gone by the end of the weekend. Oil hit $100 for a few minutes today,but there wasn't enough panic to hold it there. The same fund managers who are driving it up sold off and took profits in the grain markets yesterday and drove them limit down. They've come back some today. If traders can take one market down that quick,the same traders can take the oil market down too as soon as they're ready. It's just a wait and see game. As soon as this is all digested and they see how much oil is on hand right now,they'll settle down. There's no shortage.
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