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Smart Money Bets on an Oil Peak (not Peak Oil)
mybackpagesbyjessefelder.blogs… — Bloomberg reports today that the "smart money" is now betting heavily on an oil peak (not peak oil): Refinery executives are buying more of their own stock than at any time since 2000, prompting investors to bet that a retreat in oil will boost profits and reverse the biggest share decline in a decade. Executives at 10 refining companies...
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- allowners, on 06/23/2008, -0/+1It seems to me that the executives win either way (as usual), so I wouldn't draw any conclusions about peak oil from this, as implied in the article and description.
- Fangsinmybeard, on 06/23/2008, -0/+1This just latest actions by big oil, so the oilygarchy are solidifying their positions as rulers of the world.
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