lj: And on the topic of oil, two things.
One, China has a very LT, something like 25-year deal, with Iran to buy their oil at a 45%, 50% discount to the price of Brent.
They also have ngas contracts locked up. China can now spend on its military.
Two, this might be bullish or bearish for oil. Bullish if it sends a plum of ash into the atmosphere and causes a colder than normal winter, or even longer than winter; bearish at the outset if it interrupts air travel.
If two or three major volcanos were to erupt within a relatively short time of each other, say within a 12-month period, we could have a mini-ice age.
I'll throw in a "three". I think XOM bottomed when it saw it at $101 and changed. Missed an opp to add shares.
And so we watch, sometimes in horror, sometimes in disbelief, sometimes in both.
Sorry. I have to go get the link. I'll post it by itself.
