Tuesday, January 22, 2008

Is it a plotted plunge?

In continuation to my previous post about share market mayhem, It makes me think if this is some kind of a ploy by USA to pressurize Oil producing countries to reduce the price. In the past US has done a lot to pressurize the Oil Countries but they yielded very poor response. If the markets arent doing good the demands will reduce and the reduction Oil demand means a great loss to money craving oil countries. You may ask if this kind of a drastic step is required to bring down the price? I would say YES coz one of the major reasons for the recession in US itself is growing oil price and consumer worry led to weakened spending.

I got this doubt after reading these articles...... "The price of oil, meanwhile, fell amid expectations that a downturn would depress demand for energy" - CNN-IBN, "I think the oil market is now attached to the hip of the equity markets" - Jim Ritterbusch, president of Ritterbusch and Associates as quoted in AP. "Oil prices fell to a six-week low Tuesday on expectations that slower economic growth in the United States will cut demand for energy" - Voice Of America

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