Tuesday, January 13, 2009

60 Minutes... The Price Of Oil

Here's an interesting video on the rise and crash of oil. They blame traders.

5 comments:

Pete said...

barry bitch smacks the piece pretty well here-

http://www.ritholtz.com/blog/2009/01/oil-speculation/

Dinosaur Trader said...

Fuck, I hated reading that because he sounds so damn smart.

His blog sounds serious too...

-DT

R said...

Some of the people in this video make me somewhat angry.

If demand couldn't push it up, then why don't you short the futures and make yourself some money? I don't get it. If these people understand what is happening, then take advantage of it. Sheeesh.

Dinosaur Trader said...

R,

I agree I kind of hated the dude with the large, clean-shaven neck.

He was like, look, demand was decreasing and supplies were increasing, so the price should have been going down. He sounds like a bad trader... or at least a trader who can't get away from his thesis.

-DT

Donny said...

hmmm, sounds like what happened to stock prices. better start cracking down.