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As a man thinks, so he is. Some people are never.

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Turn off the nav system, crumple up that MapQuest printout, and let's find out where the next random turn may take us!

Nov 6, 2008 - Slippery Slopes

Oil prices continue to trend downward as demand continues to decline and it's making the "experts" look pretty foolish.

Consider this quote from a story on AFP this morning:

A decline in oil prices gained momentum on Wednesday as the US Department of Energy (DoE) reported US gasoline stockpiles had jumped by 1.1 million barrels last week, confounding market expectations for a drop of 600,000 barrels.

They were so close weren't they? For experts, that's pretty far off. It's a lot like the annual dire predictions for holdiay retail sales. This is going to be the worst Christmas ever... and then the experts are surpirsed when holiday sales increase.

I'm thinking we need some new experts. Besides, isn't decreased demand for oil the idea? Isn't this good news?

4:26 am | Categories: gas prices, oil imports
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Comments
rearwheeldrive - Nov 12, 2008 9:47 pm
Maybe the experts are playing the rookies in the commodities markets. Remember that movie where the homeless guy gets back at the rich guys by feeding false info then selling his stock off.
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