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Today on Bloomberg (tv)

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Joined: 24 Nov 2005
Posts: 859
Location: Sheffield

PostPosted: Thu Aug 11, 2005 7:36 pm    Post subject: Today on Bloomberg (tv) Reply with quote

For the biz channels energy prices are the hot topic. Eariler today I saw two pieces back to back on the Bloomberg channel, I thought they were quite interesting.

The segment kicked off with a graph of intra-day WTI prices with a high at $66 (PaulS your winning bet is within sight!) and moved onto a Q&A with the head economist at S&P.

Everytime I've heard anyone from S&P talking about energy prices they've always seemed very hawkish, very biz-as-usual.

This guy was the head-fella and he was saying things (in a very none alarming way) about very likely hitting $70 soon, only starting to get really worried at $100, the US econ' could take it.....

He also said things like "Americans continue to live beyond their means" but "everything will be fine so long as the fed doesn't hike above 4.25%"

He had a very relaxed manner but what he was actually saying sounded much more stark and pessamistic than I was expecting - or at least sounding a note of concern.

Straight after they moved onto a NYMEX-floor interview with a pit trader, they asked what the hot topic was he said "gasoline! we're setting records all over the place". He too said $70 was likely, maybe more for WTI, and "we just gotta get past the driving season and we'll be ok" ("ok?" I thought, what about the winter.....)

I don't watch Bloomberg that often but I have never seen a segment like that with such a stark overall tone - it did have just a wiff of "crisis" about it - and also, thankfully, at least some honest facts instead of just the usual BS (which wasn't totally absent, of course).

We seem to be doing a dollar-a-day new records currently, in which case PaulS's Aug 22 bet might be too conservative - how mad is that!
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