In the ‘Pup’ Business..
May 6, 2011 § Leave a comment
Well there I was the other day – midday report playing backstory on rnzn – and all of a sudden this banking dame comes on to say how the reason for the gasoline-91 price hike in enzed is how players(aka traders, dealers) are INTO buying oil instead of dollars commodity etc.. don’t know about you but such utterings are likely stick in my memory for a wee while.. along with ?? like does she know what she’s talking about .. or saying.. or just nervous at such a broadcast ‘appearance’.. or what??
So.. here we go.. Cliff Kraus @ nyt took a look stateside.. and most of us didn’t need to because the public and motorists’ reaction was loud.. but CK is nothing if not thorough. His piece ledes thusly:—
Oil prices plummeted by almost 9 percent on Thursday as traders worried that American drivers were beginning to balk at the price of gasoline.
Totally townhall OTOH we have news of one Rep taking a beating from the gathering on how the hell could he defend oilco subsidies of what Palin had said was “only $4bn a year” when people wanted fuel price pressures and other things..
So.. all in all.. and a couple o’ days settlement in the offing I’d say the lady above was out of her depth.. and quite possibly out of pocket or purse if she’d been at buying a pup deal.. for someone else’s gain. Then again, well, some – and I wouldn’t say her specifically – can make on such deals. Brokering each-way bets so to say.. 😉