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Jim Letourneau's Blog

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The Most Bearish Oil Price Indicator

The US Airline industry has an uncanny knack of attacking "oil speculators" at market tops. It is with great interest that we observe their  most recent attacks on oil speculators -  Airlines renew call for rules on oil speculators.

We saw a well orchestrated "astroturf" (faked grass roots) campaign last year leading to a site called stopoilspeculationnow.com. The airline industry went to great expense to publicize their cause, including mass emailing their clients (even the ones who fly regularly between Houston and Calgary).

Speculators in the Crosshairs
Stop Oil Speculation.com Still Going Strong…why?

Eventually they mothballed their pricey PR site but not before hedging fuel prices at near record high prices - Airlines Hedging Oil at $147.90/BBL?

Now that the airline business is back attacking speculators we can't help but wonder if the current oil price rally is doomed.