- Congressional hearings on oil speculation.
- Bernanke’s comments on the dollar.
- Airlines and autos getting crushed.
- Nonstop media coverage of the “energy crisis.”
- Gasoline subsidies being lifted or limited in Asia and India.
- U.S. Strategic Petroleum Reserve additions being halted.
- Wall Street analysts’ aggressive upside oil price targets.
- Record decline in vehicle miles driven while SUV sales implode.
- U.S. consumption of oil and oil products down nearly 4% in the first quarter.
- Iranian [tankers] with 28 million barrels of oil sitting in the Persian Gulf betting on higher prices (and/or because of no buyers).
Hat Tip Groovy Green
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