Oil and commodity prices all move inverse to the dollar, and the dollar has been surging because of the Euroland crises. Having said that, the dollar is over bought, extended, and approaching some key resistance areas which means a pullback should be around the corner which would be good for oil prices.
However, I think that there will be one last big surge in the dollar until Bernake finally announces full blown QE 3 and then we should see record inflation in commodity prices in 2013 and beyond.
Bruce was an institutional commodity trader and he knows this better than anyone here on iHub, which is probably why he wanted to get the best exposure he could to a long term oil play through TECO.
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