Saturday, June 09, 2007

Steffy Discovers Supply And Demand

It is amazing to read Loren Steffy's columns from time to time. Occasionally, he acts like he understands the free market. Either that or he is reading Brett Clanton.
"We are all here. In the cacophony of commerce that is the floor of the New York Mercantile Exchange, each of us stands.

Our SUVs are here, too. Our summer vacations, our commutes, our trips to the store.

In the pits where crude oil and gasoline are still traded the old-fashioned way, where traders yell and gesture and bite their nails as they match buyers and sellers in an unbridled frenzy of capitalism, we also find our fears, our wants and our insatiable need for fuel.

If you want to know why you're paying more for gasoline this summer, you can find your answer here. It's messy and it's complicated, but all the fervor is, ultimately, about us and our demand for an energy source that's increasingly more precious."
Demand exceeding supply. It is about time Steffy discovered what the rest of us already knew.


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