GAME CHANGER Obama proposes a $10 pb tax or embargo on oil ? It is unclear wether the proposal is a disguised universal carbon tax , or an embargo on imported oil . If it is the latter , the Saudi $30pb oil quickly becomes only $20pb oil , and to make matters worse heavy sour oils from the Arab peninsula are already heavly discounted . And what prompted this reaction ? Was it concern for the American oil industry , and in turn the American financial industry , or concern for the tens of thousands of oil workers loosing their jobs , or the many oil relyant countries now plunged into poverty ? Very unlikely !! We all know Obama is a Global Warming Zealot !! or is it a genuine way to raise revenue to pay down US debt , or just another thought bubble from an already irrelevant President . As always all we get is the headline , no detail ......
MRM Price at posting:
29.5¢ Sentiment: Hold Disclosure: Held
