Friday, June 6, 2008

Finally, Some Wisdom... seeping into the current oil price analysis:
“I don’t know how else to say it, this is not a bubble,” Jan Stuart, global oil economist at UBS, said. “I think this is real. There is a whole bunch of commercial buyers out there who are spooked and are buying. You are an airline, right now, you’re scared. I don’t see who would buy at these prices unless they need to.”
Read the entire NYT article here (including the maddeningly ridiculous suggestions that this is merely some type of artificial price bubble).