Tuesday, January 6, 2009

Russian Dispute With Ukraine Worsens, Hitting Europe



Anyone who thinks the oil market is a "free market" is seriously delusional. The two largest producers--OPEC and Russia--have enormous power over prices. Russia's curtailment of gas supplies to a large swath of Europe in the middle of winter is causing a scramble for other heating fuels, like heating oil, and that is driving up the entire energy complex. Speculators add to this buying pressure.

2 comments:

Billy said...

I am having trouble downloading the show via Apple. I have issued an alert to Apple. They are normally pretty fast at fixing this but they have not reponded yet.

Billy

Mike Norman said...

Billy,

I'll check with the tech guys on my end. In the meantime, try downloading from

http://www.mikenormaneconomics.blogspot.com