Originally Posted by
NuGuy
Amusing, considering that consumption is down and inventory is overflowing.
Reminds me of gold...sure it has inherent value, but if it's THAT self evident, why do you need gold infomercials running 24/7 on the radio stations? You don't pour money into advertising something people are buying anyway.
Last time I saw this was the run up to the real estate bubble...
Nu
Agreed.
I would bet oil will go down by fall. I cannot buy gold even though everyone is telling me to.
If the dollar collapses it will not matter either way.
As for our hedges, we are hedged at about 85 per bbl for 25% of our fuel consumption. I was looking though the call notes for the exact data but cannot find it on the flash drive I have with me. Must be on the one at home.