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$100 oil and cheap cars
01/21/2007
Two events occurred in January that could have a major effect on the oil industry—the first $100/bbl sales of crude and the unveiling of the world’s cheapest car, said John Westwood, managing director of the UK consultancy Douglas-Westwood Ltd., at a Jan. 10 meeting with industry representatives in Houston.To some financial analysts, the initial intraday spike of crude to $100/bbl Jan. 2 on the New York Mercantile Exchange was just another effort “to manipulate markets.” Olivier Jakob, managing director of Petromatrix GMBH, Zug, Switzerland, earlier dismissed that first sale as “a controversial one-lot transaction done on the floor away from computer trading.&...
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