Sadly, there was no catastrophic damage appropriated to the stupid rigs in the gulf. Now, it’s no longer fun. I do not want to see the levees break, effectively wiping out Geraldo Rivera.
That would make for “good television,” but entirely “unfun.”
In other news, my weather man is telling me to “watch out for Ike.” He’s coming hard off of Africa and is looking to slap a few oil rigs around.
As for the sell off in crude: entirely overdone.
On the other hand, if oil is to get its brains blown out, due to a “Global Recession,” well then, so will the industrials and the banks.
You cannot have it both ways.
UPDATE: There was some minor damage done to oil/gas infrastructure. I’ll be out for most of the day. Check out the Oil Drum blog for excellent commentary, pertaining to the energy markets.
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What about Natty?
George Costanza told you to sell the stinkin stuff.
Didn’t TC say it was a Costanza moment?
I get the feeling the Divine powers sent Gustav mainly as a means to build up our sense of over-confidence, so that when the next natural disaster strikes, we are totally taken off guard. I should have known, as this seems to be the normal evolution of a natural disaster. To unleash a hurricane when so many of us are expecting it, just isn’t any fun for such an almighty and omniscient intelligence.
In fact, I suspect the whole hurricane-thing has been over-done, and for the foreseeable future will only serve as a diversion from the next real natural disaster… probably something more subdued, like a drought, or maybe an infestation of carnivorous crickets.
“Cat 5 hurricanes” sell newpapers, even when they’re really only Cat 2.
At this very moment, I am setting sail in my 22′ sailboat, heading for the far Atlantic and the west coast of Africa. I know, it is the exact opposite of what any normal person with common sense would do. But I’m doing this just to prove a point…..
…what that point is, I’m still not exactly sure at this juncture, but just know that the Costanza mindset lives on!
Fly, are you going to keep DIG or sell it off immediately?
The real reason oil is dropping:
http://edition.cnn.com/2008/SHOWBIZ/Music/09/01/people.sean.combs.ap/index.html
Diddy did it.
diddy’s latest venture:
I agree with the comment re: crickets.
The essential point being that regardless of how well informed we are regarding “risk” we are still apt to be blindsided by something we never saw coming.
Viva the Black Swan
I will buy retail in the morning, then buy the oil dip.
It’s buyable.
I agree. All I am hearing, seeing and reading is oil is going down. Contrair.
“if oil is to get its brains blown out, due to a “Global Recession,” well then, so will the industrials and the banks.”
Can’t agree more. A crash in oil prices means we are headed for our first Depression of the 21st century.