T. Boone On Tilt/ Putin May Wilt
Seems my bullshit detector isn't totally whacked as my take from this post really was the smell of desperation. The New York Post reveals that T. Boone Pickens took a 34% whack upside the head betting wrong on oil through his BP Capital fund.
T. Boone Pickens has been an oilman for nearly 60 years, but all that experience counted for little last month as the well-schooled octogenarian tycoon took a beating on oil and natural gas bets, The Post has learned.
It's not that I don't feel sorry for him, after all congress was seriously floating a windfall profits tax and a crucifixion scheme for speculators and he had to position himself somewhere, but—windmills? C'mon.
What's worse is that the Russians might actually have realized what was coming, which goes a long way to explaining their most recent excellent adventure. One may want to remember the entire current oligarchy is based on maximizing oil profits.
So what was the news on Friday August eighth? Besides My Silk Pony massaging the timeline of his adventurous penis?
Light, sweet crude for September delivery settled down $4.82 to $115.20 on the New York Mercantile Exchange. It was the lowest close since May 1, when oil finished at $112.52.
Oh yeah, Russia invades Georgia while Putin enjoys the opening ceremonies in China.
So as the American electorate wakes up to find that Peak Oil has lost its appeal (with the seemingly daily discovery of more dinosaur juice, a good portion of it in our own back yard), the markets decide to yawn while W talks tough and Vladmir looks ill. It's a topsy turvy woild.
So I think it's time for the Café's first ever cheesy online poll.
