SPECULATION, FEAR AND FRENZY DRIVE OIL UP TO $140 - IN 2016

FT: Shortage fears push oil futures near $140

Fears of a shortage within five years propelled long-term oil futures prices to almost $140 a barrel, further stoking inflationary pressures in the global economy.

The spot price of Nymex West Texas Intermediate hit a record $130.30 a barrel on Wednesday. On Tuesday investors had rushed to buy oil futures contracts as far forward as December 2016, pushing their prices as high as $139.50 a barrel, up more than $9.50 on the day.

• THIS IS IDIOCY.
• A BUBBLE.
• AND IT WILL BURST.
• SOONER THAN YOU THINK.
• THE FRENZY WILL STOP.
• WHEN?
• AS SOON AS THE DEMOCRATS ALLOW US TO DRILL FOR OIL IN THE USA.