Jim,
This is just my opinion, based on years of observation (rather than facts and figures) but I think I know where most of this is coming from. Politics. The oil companies are thriving under Bush/GOP rule and so they’re playing their part like they so often do, rolling back the source of so much anger and irritation (gas prices) and giving the false sense that things are “getting better”. I fully expect them to rise again, quickly, right after the election. Bush and company will restart their massive theatrical performance of real and implied violence against oil producing nations (always a moneymaker) and his friends in the oil business will go back to shoveling lucre into their accounts. I would remind you of the overwhelming preponderance of oil company people who took up residence in the Bush administration and that some of them (like Dick Cheney) continue to collect a sizable paycheck from the companies that they either order non-bid contracts for or who have tremendous influence on pending business that comes up for consideration by the administration. As soon as the election is over (and whatever the outcome) oil prices will rise again. Bet on it. Regards, – Jim K.
Letter Re: The Developing Oil and Gold Price Divergence
