Tuesday, September 27, 2005

CNN: Storms shut in gasoline output


So why haven't our gas prices gone up and why is the price of a barrel of oil down right now? I'm not a market expert but it's fluctuations sure don't appear to have any rhyme or reason sometimes. My hunch is that maybe releasing the SPR reserves have a little something to do with it. We can't keep doing that, though. Something's bound to give.

From what I've been reading online and hearing on CNBC about the rigs and refineries, we must be in a calm before the storm right now. I haven't watched much CNBC (stockmarket channel) today but yesterday they were sounding very dismal about the energy sector. That's not like them. The usual bear/bull opponents they frequently present on their news were actually agreeing on some energy effects! I don't see that very often.

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