RE:Rig CountThe oil numbers dont add up.And on this BB,thats what Ive been harping about for a couple of years. They never have.For example,the US news media weekly annnounces oil BBL's up or down based on estimates of build,or drawwdown.What utter Bullsh!t is that ???Since when does a weekly gain or drop matter on the global scheme of things?
Since when does a lousy million BBLs / week matter?Of course it doesnt..but the media needs something to talk about on a weekly basis.A few years ago oil experts laughed aloud about weekly projections,but today this idiotic garbage is an excepted method of calculting the woes of the oil world??A few BBLs of oil...or the US rig count being down another 2 or maybe 3 last week??...its insulting to a long time oil investor.That would be me.I have never in all my years heard of such a stupid and desperate method of predicting where oil will go...and its getting more and more stupid weekly.Its as though the entire media is stumbling over one another to just print a story...anything will do.
And to make matters worse these people are getting paid for their amaturish rot..