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Wintermute

Oil drops below $90 for 1st time since Nov. 1

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http://money.msn.com/business-news/article.aspx?feed=AP&date=20120523&id=15144540

 

With Oil plummeting, signs that the Iranians are going to blink, Europe going into a recession, China's manufacturing slowing down, American Hiring leveling off and more talk of drought in the midwest that could drive up Corn Futures,  this is just going to keep squeezing the Ethanol producers and reducing the price spreads at the pump.

 

http://droughtmonitor.unl.edu/

 

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I always have to remind myself and others that this is a "weather vs climate" debate.

 

Though present day-to-day prices are narrowing... over the long term, oil will only get more expensive, as biofuels will become more common and therby cheaper as newer technologies come on line...

 

weather vs climate...

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Those in the Mid-East (world) region that depend upon oil revenues for almost all of their budget will not sit and let oil keep dropping.  The mere "mention" of hostilities in the Gulf Waters by one of these countries could very well send "oil" prices skyrocketing upward.  Recent history has shown this to be true.

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