The Energy Report
By Phil Flynn | December 21, 2012 2:14 AM EST
T'was the last Energy Report before Christmas and all though the pits, traders were wondering if we'd go off the cliff.
A hoped for deal sent us up a tear, but then came "Plan B" that Democrats screamed was unfair.
Republicans want to cut spending to get us out of the red
Democrats have visions of taxing rich people instead.
And Obama says there's just a few hundred billion dollar gap and
it does not make sense to continue this flap.
Yet UP in the House there arose such a clatter,
Speaker John Boehner said that the talks were in tatters.
No to the tax cuts unless you make a million in cash! And if Obama disagrees then the market might crash.
The biggest tax hike in history would be a very big blow and all the Christmas shoppers might quit spending their dough. We'll start to wonder if any new jobs could appear if all of our taxes go up when we start the New Year.
The politicians had to put their spin on this quick, and blaming the other guy is always the trick.
More rapid than eagles the sound-bites they came,
they were angry and shouted, and they called each other names!
"Now, Boehner! Now Obama! Now Reid and Pelosi!
you all say the other is as scary as Bella Lugosi
As Congress passes to torch and our backs to the wall!
They have to agree on a deal or the market will fall.
As luck then would have it the oil did fly,
After we saw oil inventories we jumped to the sky.
A new winter storm was starting to brew with declining distillates the bears became few.
And then, in a twinkling, prices shot through the roof and now it was the bears that had the burden of proof.
Heating oil drew, and was turning around, and even the RBOB started turning around.
The traders had better start covering their puts as the weather premium could make the downside caput.
It seems that oil is back on an upward track despite more production as we continue to frack.
I know how the fracking has made some people wary because shooting liquid in rock to some seems quite scary. Yet producing more oil helps our economy grow and that is much better than sending OPEC our dough.
Riches come out from those pipes underneath and soon time it will make our gas prices cheap.
With more natural gas our air won't be smelly and we can send our exports to China and even New Delhi.
We can drill in the sand or the continental shelf. We can drill in the rock I get giddy myself! We can drill with our new oil platform beds and forget about peak oil we have nothing to dread.
And with fracking we see continuing perks. We will fix our economy and put people to work. The stock market should rally how far could it go? The US Economy will put in a low! With Oil exports stocks could rise like down of a thistle or even as high as a rocketing missile.
Our soldiers are fighting in lands far away, and we should remember to pray for them each passing day.
It is for freedom that they are putting up this incredible fight.
So to them and all of you Merry Christmas and good Night!
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