Worries swelling over oil shortage

In the space of a couple of hours last week, crude oil prices hit a record $56 a barrel…The converging events drew attention to what administration officials call a temporary global energy crunch. Bigger worries also are bubbling to the surface — fears of a day of reckoning over world oil reserves.

A brave new oily world

I asked Joe Terranova, director of trading for MBF Clearing Corp., why oil keeps going up and up. “Simple, the cat is out of the bag!” according to Joe. “Traders now recognize, for the first time since oil futures have traded, that there truly exists a demand to supply problem.”

Fear and Loving of Hot Commodities

Eric Sprott could have told you this was coming. Canada’s top fund manager was buying energy stocks long before oil — and other commodities — became the hottest investing trend since the technology bubble. He is wildly bullish about energy. Two words explain why: Hubbert’s Peak.