At last the secret is out. We don't have to wait till August this year. The pump price for petrol and diesel is up by 41%. Thanks a million to the BN Federal Government for speedy and timely decision to come to the aid of millions of Malaysian. Make sure you bring the price back down again mercifully if the world crude oil price happened to come down gracefully. The present price hike of 78 cents for petrol price is NOT written on STONE mind you, so please reverse your decision when the time comes.
Rocketing oil price is a bubble May 28/08
Forexmentor.com Forex Trading Price Action
George Soros contends that speculators are the major culprits behind the current oil ‘bubble.’ Oil recently reached a record high of US$135 a barrel, with wide ‘speculation’ that US$200 was within reach.
In an interview in The Daily Telegraph, he asserts that some of the rise could be attributed to the weak U.S. dollar, ebbing Middle Eastern supply, and record Chinese demand, but pins a chunk of the blame on speculators. He calls the market a ‘bubble,’ given the parabolic shape of price.
His comments should not be taken lightly, as he is the world’s most prominent hedge fund investor. First it was stocks, then housing, and now oil. Tulips next?
This commentary brought to you by Peter R. Bain Wednesday, May 28/08, at www.forexmentor.com, where you will always find a brilliant strategy for trading the forex.
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