Useful information and discussion about energy, including oil and gas, peak oil, hydrogen, alternative energy, ethanol and other biofuels, climate change, and geopolitics, from an experienced industry professional.
A service of GSW Strategy Group, LLC, providing foresight and insight in an uncertain world. Content Copyright 2004, 2005, 2006, 2007 and 2008 by Geoffrey S.W. Styles. All rights reserved. The views expressed here are solely those of the author.
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Oil Upside Down
Posted on October 07, 2008
Anyone thinking that oil would remain impervious to the financial uncertainties sweeping the globe received two wake-up calls in yesterday's energy futures market. It wasn't just that oil closed down by over $6 per barrel; the November gasoline futures contract actually settled below November light sweet crude. You don't have to know anything about the economics of oil refining or pipeline transportation to see that as unusual. It is even more remarkable, considering that for the last two weeks, US gasoline inventories have been at their lowest level since at least the 1980s. I'd hate to r...
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