Re: Gas Prices & Conspiracy Theory

[Jim Devine <jdevine03@xxxxxxxxx>]

On U.S. NPR this morning, there was an interview with a guy from the
ECONOMIST magazine about the conspiracy theory of gas prices. He
didn't mention the matters discussed below.

But what was interesting was his key factoid, used to emphasize the
(undeniable) fact that people in the US -- unlike in Japan or Europe
-- waste tremendous amounts of gas: Henry Ford's Model T had better
gas mileage than the average new US car today.

On 9/27/06, michael perelman <michael@xxxxxxxxxxxxxxxxx> wrote:
> Sam Smith posted this
>
> http://prorev.com/indexa.htm
>
> LE METROPOLE CAFE - In yesterday's WSJ in Section C there is a very,
> very interesting item in the article, Some Investors Lose Their Zest For
> Commodities. The article notes that over that past few months, commodity
> funds have been liquidating commodity holdings. But here's the stunner:
> "Consider the Goldman Sachs commodity index, one of the most popular
> vehicles for betting on raw materials. In July, Goldman Sachs tweaked
> the index's content by cutting its exposure to gasoline. Investors
> tracking the index had to adjust their portfolios accordingly -- which
> sent gasoline futures prices tumbling."


--
Jim Devine / "Segui il tuo corso, e lascia dir le genti." (Go your own
way and let people talk.) -- Karl, paraphrasing Dante.