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Traders Have Hopes, Too | Oil Watchdog

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Traders Have Hopes, Too

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Fri, Dec 21, 2007 at 4:07 pm

    Traders Have Hopes, Too

    12-21-07 by dugan

     

     

    It was just a news-blurb on the NPR broadcast this morning, but why would a reporter say that crude oil prices above $93 a barrel "Raised hopes among traders that demand for oil and gas will strengthen." Raised hopes? Among traders? I guess that would be hopes for Santa to bring them $100 oil for Christmas, so the market gambles that are driving energy prices will pay off even bigger. It’s what consumers and governments are dreading, but if energy traders "hope" to refurbish the Paris flat or put new turbodiesels in the yacht, who are we to begrudge them?

    It’s a keeper of line, though, for the next time someone grumbles about the anti-business media. 

     

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