For anyone who is saying: It really couldn't be that bad with regards to oil resources and futures I suggest you randomly read a couple of these current essay's on the oil drum.
The Drum features in-depth analysis as well as current news in the energy sector and primarily petroleum.
The flooding of the Mexican state of Tabasco which is turning 1 million people into instant homelessness. And it also is shutting three oil ports and the flow of one fifth of Mexico's crude oil.
Mexico is our third major source for crude.
I have to conclude this is an optimistic report with regards to oil since they are stating this flood is far worse than the Katrina floods. And if you recall the reports their tended to become more serious with time.
And i can not determined if this disaster has been factored into the barrel price of oil which is going up as the basket price of the dollar is going down.
But I don't think it has and this will become evident to us all on Monday.
They also do not seem tobe able to control the price of Gold which is nearly $800 per oz. and is critical to their supporting the dollar.
The U.S. government officially states they support a strong dollar but in reality or practice they want a weak dollar. But what they don't want is a rout. Because that could be accompanied by world panic selling of the dollar. So to be real about that we have to conclude that will happen and these oil crisis's will contribute to the collapse of the worlds reserve currency...the dollar.
This is not an abstract as we are talking about that dollar in our very own pockets.
All of this does not bode well for Mom and Pop America since they really have no personal resources and are stretched to the economic limit.
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