About oil speculators

Is the price of oil going back up ? It was $59.90 last night in London, actually down from previous highs earlier in the week and in September. The question however remains if there's a reason for prices to continue to hold, will they go higher and if they do is this attributable to actual shortages i.e. supply and demand or speculation by a small group (oil companies too) of greedy traders watching the weather channel? Open for discussion.

I had two good wines this past week (reds of course).

The first a Biltmore Estate Cardinal's Crest Red Table Wine from North Carolina (USA). Earthy with a wood flavor at end.

The second, a gift from a very good friend, a Grand Vin 2002 Chateau Lavergne-Dulong (France) Bordeaux Superieur bottle No. 061338. Superb, rich and well balanced.

World News

Colombia - the Constitutional Court has approved the reelection process clearing the way for incumbent President Alvaro Uribe to seek a second term in 2006.

Mexico - Hurricane Wilma clobbering vacation resorts Cozumel and Cancun, one good thing, most homes and buildings are concrete, brick and mortar hence less damage than wood sstructures.

USA - Florida preparing for Hurricane Wilma. Most homes built of wood. Huff and puff more floods and damaged homes.


Brazil - state owned oil company Petrobras will invest 732 million US dollars in 96 potential new oil fields, 55% of the fields could probably be good producers of natural gas, a priority product for Petrobras.

Wilma

Newly formed Hurricane Wilma, a Category 5 storm, threatens Mexico, Cuba and Florida. The path is unpredicatable and the damage will be enormous, not only from the winds and water but from huge wave surges.

Animal News

Chile - the huemule (Hippocamelus bisulcus) is a rare deer that lives only in Argentina and Chile. It is believed that there are less than 2,000 left in both countries and efforts are underway to reintroduce these rare animals to protected park lands.