Thursday, 31 July 2008
Touching A Nerve On Oil
I notice that my Bloomberg column on the oil price was the most read piece yesterday on Real Clear Markets. That is interesting in itself. I suspect that many people like me are watching the oil price as the best single indicator of where the global economy is going. At $140 to $150 a barrel, it's going down the tubes. At $80 to $90, the crisis is cancelled. Right now, it is hovering somewhere between those extremes.