Roddy et al - something to smile about
http://www.cftc.gov/stellent/groups/public/@newsroom/documents/file/itfinterimreportoncrudeoil0708.pdf
This is the long awaited interim report on crude oil from the Interagency Task Force on Commodity Markets. IMO it's a great read - in particular on page 11 there's a chart that shows World GDP v's Oil Production. It shows that back in 2003, global GDP began pulling away from oil production. It was shortly thereafter that oil broke through the $34 mark, and never looked back.
This is actual data, it's NOT a projection. And it says to me, what some of us have suspected for some time - something new IS going on. And it has everything to do with China and other emerging economies.
:)
Roddy et al - something to smile...
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