So the next time I am in Alabama, I will stop in Clanton. Roll some peach trees with Toilet Paper. Then do donuts in the parking lot whilst screaming, "Oranges are better!"
Will this cause a spike in Peach futures?
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Oil prices up on word US ship fired on boats in Persian Gulf
By JOHN WILEN, AP Business Writer Fri Apr 25, 4:26 PM ET
NEW YORK - Oil prices rose sharply Friday on news that a ship under contract to the U.S. Defense Department fired warning shots at two boats in the Persian Gulf. Retail gas prices as expected rose further into record territory, nearing $3.60 a gallon.
Crude prices rose on initial reports that a U.S. ship had fired on two Iranian boats; the news raised concerns that a conflict between U.S. and Iranian forces could cut oil supplies from the region. A Navy spokeswoman said the origin of the boats was unclear.
The news was enough to send light, sweet crude for June delivery up to $119.55 before the contract retreated to settle up $2.46 at $118.52 a barrel on the New York Mercantile Exchange.
The incident worried investors because at first it appeared to be the latest in a series of encounters between U.S. forces and Iranian boats in the Gulf. Early this month, the USS Typhoon fired a flare at an Iranian boat that came within about 200 yards of the ship. In January, several Iranian boats made what the Navy described as provocative moves near a U.S. ship in the Strait of Hormuz. And in December the USS Whidbey Island fired warning shots at a small Iranian boat officials said was rapidly approaching the ship.
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If I was selling oil futures, I would just stand up on a chair in the exchange and scream... "Yes, we are still importing this oil from the Middle East, where it is the Middle East, and they are doing Middle Eastern things.." I think I could keep the investors happy, continuing to drive up oil futures straight through the summer. Of course I will take my vacation during the winter months.
Friday, April 25, 2008
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