Crude has been rallying and is once again approaching $50
per barrel. The mild December lulled traders (who apparently forgot it gets cold
in the Winter) into leaning the wrong way. In addition to the recent cold snap,
Iran has been of particular interest as tensions have been escalating.

                               35 Year Oil chart

20050126

20050126b

source:  Chart of the Day

CotD writes: Today’s chart illustrates the degree by which OPEC oil
production plunged and oil prices surged following the last Iranian crisis
(1979).” Following the 2001 US recession, the world is increasingly relying
upon greater OPEC oil production and meet its energy appetite, particularly
from U.S. and China.

>

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Quote of the Day:

“Whenever you find yourself on the side of the majority, it
is time to pause and reflect.”   
-Mark Twain

Category: Economy

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

2 Responses to “Chart of the Day: Inflation Adjusted Crude”

  1. edited for clarity . . .

    MR. G. OBASEK
    oil minister NNPC
    Nigeria
    2nd of Decenber 2004

    I the former chairman of NNPC, am a man with a very small penis, and I am from nigeria — apparently, the home to 78% of the world’s phishing scams.

    Through my search in the internet (which I think may catch on), I got your email address from my 4 year old daughter, who has been configuring my optical fiber feed all morning. After due verication with my colleagues, which included ensuring your email address didnt bounce, I decided to forward to you this business proposal by htting the button marked “foward” on my email program, and then performing a short interpretive dance, in anticipation that you may be in position, I.e., brain dead, to assist/handle this business with me.

    We want a reliable person with the IQ of lawn furniture, one who prefarably doesnt ask too many questions, who could assist us to buy a crude oil invoiced bills from contracts awarded under the budget allocation for MINISTRY OF petolum.

    In the alternative, we would also be interested in “petroleum,” which we understand may be even more valuable than “petolum.”

    These bills had been approved for payment. my days of work in the office will expire january 2005 , which in case you haven’t noticed, was 4 months ago.

    The contracts had been executed, commissioned and the contractors had been paid their actual contractual so the reaming crude oil which i calculated is about $300.000 we are about to receive now is a kick back from the contractors and Under the protocol division as civil servants, this is why am soliciting your assistance in buying the crude oil this manner. Causer really, who doesn’t want to gewt involved with overseas kickback arrangements? Its a real growth industry, so long as we dfon’t run out of idiots.

    On our part, all modalities had been worked out in ensuring a smooth transaction. The only hitch might be that I do not knwo exactly what a modality actually is, but it ceretainly sound s impressive enough.

    As soon as you indicate your interest, or that you recently suffered from a severe blunt head trauma, further instructions will be passed on to you on the procedure that we will follow in accomplishing this deal.

    If this proposal is accepted by you, kindly reach me immediately, furnishing me with your confidential telephone numbers, social security numner, credit card information. This is only for us to verify that you are who you claim to be, as we reached you via random email, and you may not be a person of high enough moral standing to particpate in our kickback scheme.

    Looking forward to hearing from you, or the FBI, whoever finds us first.

    Best regards
    MR. G. OBASEK
    former chaiman NNPC
    happy Encyte use

  2. mr adjekota says:

    I the former chairman of NNPC, am a man with a very small penis, and I am from nigeria — apparently, the home to 78% of the world’s phishing scams.

    Through my search in the internet (which I think may catch on), I got your email address from my 4 year old daughter, who has been configuring my optical fiber feed all morning. After due verication with my colleagues, which included ensuring your email address didnt bounce, I decided to forward to you this business proposal by htting the button marked “foward” on my email program, and then performing a short interpretive dance, in anticipation that you may be in position, I.e., brain dead, to assist/handle this business with me.

    We want a reliable person with the IQ of lawn furniture, one who prefarably doesnt ask too many questions, who could assist us to buy a crude oil invoiced bills from contracts awarded under the budget allocation for MINISTRY OF petolum.

    In the alternative, we would also be interested in “petroleum,” which we understand may be even more valuable than “petolum.”

    These bills had been approved for payment. my days of work in the office will expire january 2005 , which in case you haven’t noticed, was 4 months ago.

    The contracts had been executed, commissioned and the contractors had been paid their actual contractual so the reaming crude oil which i calculated is about $300.000 we are about to receive now is a kick back from the contractors and Under the protocol division as civil servants, this is why am soliciting your assistance in buying the crude oil this manner. Causer really, who doesn’t want to gewt involved with overseas kickback arrangements? Its a real growth industry, so long as we dfon’t run out of idiots.

    On our part, all modalities had been worked out in ensuring a smooth transaction. The only hitch might be that I do not knwo exactly what a modality actually is, but it ceretainly sound s impressive enough.

    As soon as you indicate your interest, or that you recently suffered from a severe blunt head trauma, further instructions will be passed on to you on the procedure that we will follow in accomplishing this deal.

    If this proposal is accepted by you, kindly reach me immediately, furnishing me with your confidential telephone numbers, social security numner, credit card information. This is only for us to verify that you are who you claim to be, as we reached you via random email, and you may not be a person of high enough moral standing to particpate in our kickback scheme.

    Looking forward to hearing from you, or the FBI, whoever finds us first.

    Best regards