Tuesday, September 13, 2011

WTI Contango: It Means Time To Make Money

We are dealing with another economic crisis. The WTI contango. If true, it will threaten our national security. From the charts, it looks real. Congress tried addressing it.

Senator Landrieu saw the US merchant fleet idled during a national crisis. She joined with Senator Murray in an attempt to create legislation mandating the use of US Flagged ships during a National Emergency.

Things have broken down that badly? Ports are a local issue. States do have some input and the voters can elect anyone they want. Come on, The Stregic Petroleum Reserve was open, that is a national emergency! Dummies in this country chose to use foreign flagged vessels. I do not like legislation. The idea that this is needed now is repugnant.

The long term solution must be economic, however, time has proved Senator Landrieu correct one more time. So I will endorse that bill. In the mean time, Wall Street will make a few extra billion, You and I will pay more at the pump, supertankers will fill our harbors because the computers caught an anomaly.

by J John Swanko


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Copyrighted, 2011, J John Swanko, All rights reserved. This work is licensed under a Creative Commons Attribution 3.0 Unported, It may not be published, broadcated, redistributed, rewritten, without meeting the terms and conditions.

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