Apparently surviving the 4th of July weekend without anyone launching a nuke at Iran has calmed oil traders fears and let the price per barrel slide down over $9 a barrel in two days time.
So, will the price at the pump come down? I bet it slips from $4.10 to no less than 3.99, maybe not even that far. Seems to me that every time oil companies raise prices on middle east turmoil, hurricanes in the Gulf or supply chain fears, when those events pass without a hitch the price only comes down a fraction of what it went up.
Well Iran tested ballistic missles last night, which should send those traders scampering to secure $150 a barrel futures today. So much for the price decline. The government is oh so helpful as well, allowing top aides to spout off about what a huge threat Iran is right now and how stopping them is our number one priority. Meanwhile, in Iran, government officials laugh and laugh as they continue to fuck with the American economy and undermine it’s people’s confidence in their leadership without actually doing much of anything aside from sabre rattling. And somewhere in the top floor offices of big oil companies another round of executive bonuses are being tallied up.