ETS Investor Alert 8-25-08
Submitted by New Energy News Blog
It only took them a week, but oil traders have finally awakened to the enormous political risk represented by Russia’s incursion into neighboring Georgia. biz.yahoo.com
That oil prices didn’t immediately jump when Russia pushed its tanks up against the oil pipeline in Georgia that is absolutely vital to the West not being under Putin’s iron fist only proves our point that oil traders have the attention span of a fruit fly.
When Russia invaded Georgia, traders were focused on how falling oil demand in the U.S. presumably was going to “pop” the oil bubble (irregardless of still rising demand throughout the rest of the world). Then quickly they were on to the hurricane-that-wasn’t in Florida, which reaffirmed their insistence that oil prices are too high.
Finally, they have awakened to the scary future of Putin throwing his energy weight around. Please, oil traders, don’t lose sight of Putin.
Until tomorrow.
