I posted the stuff below a couple weeks ago. Now the supply side comes forward hoping new technology will find more oil. That’ll show those market speculators a thing or two.

It is still not well enough know or understood, in my opinion, that one of the worst offenders in the march of oil towards $100 per barrel is the individual trading oil on the markets.

The rest of the economy takes its toll on gas prices, but the purchase of crude sets the base price. So get this, reported Friday:

NEW YORK (AFP) - A lone trader out to win a little fame made the purchase that took oil prices to the historic 100 dollars a barrel level this week but he lost 600 dollars on the deal, analysts said.

I’m so sad. As a result, $100 is no longer the mental milestone it should have been, more so a roadblock. Sure it would have been overcome eventually. That it was breached in such a flip manner shows a severe split between how you and I budget and how the investing elite budget theirs.