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OPEC, Raise Production! -- 4/22/2008 |
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 Oil is hitting a new high everyday now. This presents the biggest danger to our economy, and the global economy as far as The Limit Order is concerned. Prices are going up now. Inflation is going to be ignited. Most prices derive from energy prices. OPEC says the price of oil is because of the weak dollar. While this is part of it, it is not the only reason.
What are some other reasons?
Oil Supply. There is the actual and perceived oil supply issue. Perceived oil supply issue is when Nigerian or Iraqi oil production equipment get attacked. Actual is when there are more buyers for oil than there are supply. I think we are running into both right now and there is no reason why the oil producers of the world should not crank up supply if they can do so. OPEC has already said they can.
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