Oil is now front and center on everyone’s radar. CNBC is running a special tonight about oil, and has a banner running across their ticker titled "America’s Oil Crisis". Congress is looking for scapegoats to blame for high oil prices, and is hauling in oil executives to testify, and propsing stupid ideas like a windfall profits tax.Funny, look at the first chart below of wheat (and the chart for corn looks identical). Looks like wheat and corn have had parabolic moves higher, but I haven’t heard any talk of windfall profit taxes on the farmers. Rather, Con[...]
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[Source: The Money Blogs]
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