Friday, September 3, 2010

Phil Flynn: Welcome To September!

Forget all of that economic doom and gloom because that was so August! September has come and hope is rising. Maybe, just maybe, things were not as bad as it seemed and maybe having total petroleum supplies at all time highs really does not matter. You see in a world where the Fed always has your back it might be wise to not get to pessimistic. Remember the Fed has the printing press and they have promised to use it if needed. Of course oil had other scares to worry about.

An explosion and fire on a Mariner Energy platform had traders saying oh no here we go again. Mainer Energy, a former unit of Enron and now in the process of being bought by Apache, has had it shares of accidents racking up more than 12 in the last four years. Anytime you are dealing with oil and gas it is a potential dangerous situation and accidents are going to happen. The fears that this accident would give the critics of off shore drilling more ammunition to keep.....Read the entire article.

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