Oil has shown a lot of strength this year. The oil bulls were right, though a bit of luck was involved. The dollar sank, and the oil thug states produced even less oil than expected. So you have $80 oil. A year ago, I guessed $60 or less. Still, that is reality: The world’s oil reserves are dominated by countries fairly deep into thug or anarchy territory, and thuggism and productivity are not pals. You have Libya, or Iraq, or Iran, or maybe Nigeria, or Venezuela, and the House of Saud, or Russia and the former states of the Soviet Union. Free enterprise and democracy are sneered at in ever[...]
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[Source: The Money Blogs]
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