Who is the wickedest of them all?

Take note of the grandstanding, political, self-interested icons who claimed oil was correctly priced during this never before seen rally in crude oil.  These people were responsible for their own little rallies inside of this massive oil appreciation over the past two years.  Since we know oil is incorrectly priced; and much higher than fundamentally acceptable, we are taking time to recognize some of the responsible public talking heads.

• T. Boone Pickens has consistently talked up oil and attempted to scare consumers about China and India’s impact on world oil supply by saying oil will go much higher.  Pickens stated several times oil is correctly priced and not manipulated.  Pickens talked up oil while buying a 12 billion dollar wind farm.  Wind generated energy is the most highly government subsidized green energy in the USA.
• Goldman Sachs receives highest honors as rhetorical terrorist extraordinaire.  Wild comments about $200 per barrel oil in the near term economy don’t help anyone sleep at night, drive to work or even hedge risk.  These kinds of comments are purely terroristic to oil consumers and hedgers.
• Warren Buffet has been known for talking up oil while holding significant energy positions.  In Buffet’s defense he’s been an energy bull since long before the speculative run up.
• Jim Rogers predicted the whole bull market in commodities which is highly commendable and fundamentally sound, but his rhetoric on CNBC and Bloomberg talking down the US dollar may have been in an effort to talk up oil; therefore despite my reluctance, Mr. Rogers is noted.
• Jean-Claude Trichet ECB President has indirectly caused the largest rally in crude oil history on reckless comments he may hike rates in July 2008 killing the US dollar in the process and spiking crude oil.  At this time it’s unknown if Trichet is trying to appreciate the euro to reduce the perceived high oil prices, or if he’s trying to place the euro as the default reserve currency of the world by dethroning the US dollar.
• Bush.  One word.  One syllable.  Bush simply supports high oil prices regardless of his rhetoric.  He vowed to veto the Senate’s bill to stop SPR shipments, but was defeated with a veto proof Senate vote which did stop SPR shipments and seemed to pause the acceleration of oil prices.  By continuing two simultaneous wars Bush has contributed more than all previous rhetorical terrorisers [sic] to the depreciation of the dollar and rapid appreciation of energy. 

 

 

Please contact me with more public icons that defrauded us by talking up oil.  The contact form on the right side of this blog can be used to email me your suggestions.  Once we have a good base we’ll host a vote here to see who receives the rhetorical terrorist of oil reward.  The winner will receive a plaque from this blog engraved with their name to immortalize their efforts in talking up and scaring consumers about oil prices and slowing world growth all in a selfish effort to profit from oil stocks, green energy, or commodities appreciation.  After the number 1 terrorist is selected we’ll no doubt have cheaper crude trading on the NYMEX, and we can identify the honest public figure who tried to speak the truth against the terrorists.