[lbo-talk] Putin's Pipeline

[C. G. Estabrook]

"War, what is it good for? Neither oil nor gold is the surprising answer. The 
explosion of the South Ossetian powder keg should have sent crude and gold 
prices soaring. Instead, both are down 4 per cent since Thursday. This is odd. 
Gold rises on geopolitical frisson. And Georgia is a transit route for Caspian 
oil to Europe.

"Why are oil bulls and goldbugs so quiescent? With oil consumption falling in 
North America and recessionary signals coming from Europe, weak demand trumps 
geopolitics. Moreover, one of the pipelines crossing Georgia was shut down 
already and that had failed to support oil prices even before the shooting 
started..."

http://www.ft.com/cms/s/0/80fcc75a-6805-11dd-8d3b-0000779fd18c.html

sawicky at verizon.net wrote:
> Meanwhile oil prices are floating down, which to me is strange.
> 
> At the least, traders should be finding suckers who think the
> 
> affair will weaken global supply.