ZH takes a while to get to the point but it is an important one: the price of oil isn't going up, the value of the dollar is going down.
This schizophrenic disconnection between the stock market, and oil, and true supply and demand, is, though, a symptom of one very disturbing illness lurking in the backwaters of the U.S. fiscal bloodstream; dollar devaluation.
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The dollar’s only saving grace has long been its status as the world reserve currency and its use as the primary trade mechanism for oil. This, however, is changing.
The Oil Conundrum Explained | ZeroHedge
By the way, did anyone else notice how the Mainstream Media fell right into line with Obama's PR push to show he is working to lower the price of oil? Nice how he fast-tracked the part of the new pipeline that is already approved and was already moving swiftly to operation? Gotta love the NYT jumping in to help their buddy Barry:
http://www.nytimes.com/2012/03/23/business/energy-environment/inching-toward-energy-independence-in-america.html?_r=1&hp
My only question about the election in November is how to go long Obama...no doubt he's going to get another four years...
