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Bird's Eye View: Tuesday, July 1, 2008- Too Many People Bullish on Oil

Posted on July 01, 2008

You know what the news is-- in a minute, you're going to hear the rest of the story - Paul HarveyOil prices spiked this morning (and probably over the past few months as well) on rumors that Israel was planning an attack on Iran. How much of this is true is anyone's guess. Rumor mongers now control the markets without fear from regulation.No one can be completely sure of Iran's nuclear intentions. Clearly if their purpose is to destroy others, the matter needs to be dealt with. Since China and Russia have close ties to Tehran, I can't believe they would turn the other cheek if Iran had intent...

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game , oil