Monday, August 3, 2009

Oil up to $71+/bbl

Oh, here we go again--oil is up, and up big this morning. Not a good way to start the week for many pundits who think all the world's problems can be traced back to the precious commodity. Well, that's nonsense. For those out there who have followed me over the years, you know I'm a big oil bull; and here's what I have to say about higher oil prices: KEEP IN COMIN'!!

You see, look at oil as a proxy for economic growth. Higher oil prices means growth and expansion (positive GDP rates). For this optimist, I say, let's bring on triple-digit oil again.

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