| Log In | Register Now
The Energy Report January 7 2009
Bulls last shot! Oil's failure to stay above $50.00 a barrel may prove fatal to the bull's hopes that oil can put in a sustained run. Yesterday's reversal was a weak technical signal from a market that seemed to benefit from new geopolitical worries yet still has the backdrop of negative economic news. The bulls are going to need to get a lot of help from today's inventory report or the early bullish mood of 2009 may have already ended. Those that are still locked in their fair price fallacy have to remember that historically recessions and a weak global economy has never been good for energy prices. Remember it was not too long ago many of you thought oil at $40.00 or $50.00 a barrel was ridiculously high and that was in a global economic expansion. Now in the face of a historic economic slowdown some of you now think that $40.00 or $50.00 a barrel is cheap. The FOMC report does not bode well for future energy demand. Talk of high unemployment, negative GDP growth along with substantial risks to the economy. Weak factory orders also are bad sign for future energy demand.
No More Compromise on Birth Control, Obama Staff Chief Vows
Dad Shoots Laptop Video Goes Viral on YouTube After Daughter’s Facebook Rant [VIDEO]
Free Edition
TAKE A TOURWe value your privacy. Your email address will not be shared.
