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Oil jumps $5 on U.S.-Russia tensions, sliding dollar

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Watch Out Below ...and Above | 10:12 a.m. Aug. 21, 2008
Glad the CNBC pundits saw this coming(sarcasm).

When the mainstream "experts" don't know what they are talking about and are constantly SURPRISED by developments, we are in big trouble.



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Speculators | 10:44 a.m. Aug. 21, 2008
And the speculators are back at it again: Creating artificial demand by buying up oil they won't use and justifying the higher prices by playing on fears of war between Russia and the U.S. The dollar is down today as well which isn't helping.

Where's the "it's all supply and demand" crowd today? Did you notice in the article that OPEC is "tightening output"? If demand were really greater than supply, why would OPEC be CUTTING production? The reality is there is more oil than there are customers to buy it.....in Libya there are literally filled tankers sitting on the docks waiting for someone, anyone, to buy their oil.

Speculation is crap and needs to be made illegal.
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