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Old 03-27-2012, 08:32 AM   #1
Ground Beetle
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interesting: Max Kaiser interviews Chris Cook re: inflated oil prices and likely bust


This guy is a former oil industry regulator, and I find the whole interview extremely interesting and thought provoking - particularly, his views why the current oil price is the bubble ("bubble is, when everyone is buying some asset" - definition, and how he thinks it is that Joe Public right now is investing in oil - which was my first thought - when share market started crashing, people cashed in as quick as they could, and then looked for some other asset to put this money in - that's exactly why oil prices have soared during/after our current recession, and that was my thought for ages), and the role of investment banks in inflating it. He says, that investment banks themselves do not hold risk positions in the market, they have rather created investment vehicles for retail investors to hold the risks in the market themselves. He also points out that some oil producers are hedging at $60 per barrel, when market prices are more than double this - is it something that producers knew about the market, that owners of "paper oil" don't? Like the real supply/demand curves, and manufacturing costs, etc?

Last edited by bushi; 03-27-2012 at 11:38 AM.
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