Its easy to blame "big oil"...its being drilled into us everyday by certain political groups that the rich are out to sink the poor, OPEC is out to hurt the US, big oil is out get rich. Unfortunately, its not that simple...the price of oil is going up on speculation in the market. I have yet to hear to hear an oil company announcing a price increase or OPEC announce a production cut. All this hype by, again certain political groups, about a looming recession and a return to the 1970s has investors turning away from some market segments and looking at others - oil being one, which drives up the price. Gold is reacting the same way after years of being down. And, no one was out to help the oil companies when the price was $10 a barrel and they were losing their shirts in the 80s. Just some food for thought.
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Today's Featured Article - A Cautionary Tale - by Ian Minshull. In the early 1950s my father bought an Allis Chalmers B and I used it for all the row crop work with the mangolds and potatoes, rolling and the haymaking on our farm. The farm and the Allis were sold and I have spent a lifetime working on farms throughout the country. I promised myself that one day I would own an Allis. That time event
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