I think a lot of market speculators that were shorting oil or buying reverse indexes on oil companies recently got their a** handed to them recently. Hence the dead silence. I don't know, seems like americans don't mind $100/oil, and as the us dollar keeps devaluing, i'm not sure where oil is going to end up.
It probably doesn't also help that there is an expectation of yet another interest rate cut, as I received a headline news this morning.
Although most analysts expect the Fed to go ahead with another 50 basis point cut at the next meeting, fears that stagflation may become entrenched are rising.
That said, I drove a Prius rental car in spain last week. Europeans pay an arm and a leg for gas….I guess we're getting there ourselves. I was pretty impressed, except that it's a little weird that it drives like a golf cart when you first start up (being dead quite). It's probably not the best kind of car to drive in a crowded cities in europe, because people walk all over streets and are use to moving out of your way when they here your car's engine behind them…But in a Prius, it's pretty dead silent when you're rolling around in a crowded city. I'm considering getting a more fuel efficient car as a commuter. My only gripe is i wish there was an affordable full electric car. The Tesla roadster is a little out of my price range…And oh, I wish the Prius had slightly more attractive exterior packaging.
