Blogging is a new "feature" of the internet. It allows an easier way to update web pages and gives a "log" type setup with some automatic features. This is the second Blog I've created, the first can be seen here.

 
Oil prices rally on news of Saudi king's death - Oil & Energy - MSNBC.com

Ok, admit it, everyone thinks you have to be some kind of super brain to trade futures. Maybe not on the same par as a brain surgeon or rocket scientist, but enough to keep track of the many different points of interest that could affect the price of the commodity being traded.

So what baffles me is why oil traders got all antsy and traded up the price of oil with the announcement of Saudi Arabian King Fahd's death. After all, he suffered a stroke ten years ago, and since then the Saudi kingdom has been ruled behind the scenes by King Fahd's half-brother, then Crown Prince Abdullah, now King Abdullah.

Granted, Saudi Arabia has only had five previous kings in it's short history, but the royal family has made it quite clear that the Crown Prince position is for the person who will succeed the current king.

Peter Beutel, president of Cameron Hanover, Inc., publisher of a daily newsletter on energy-market trends probably said it right.

Any excuse the bulls have to take it (the price of oil) higher, they’re going to
use.

That still doesn't make it any better for you and me, since our gas prices will just go up again. Someone needs to find these jokers and bop them in head. Or maybe, we can just make them take some more history classes.

----

While we're talking about Saudi Arabia, jump over to AskWestley.com and get your own crash course on how succession is handled in Saudi Arabia.

posted by Westley at 8/01/2005 11:56:00 PM