However, the most recent runup in spot prices to nearly $ per barrel, attributed largely to the destructive effects of Hurricane Ivan, left the price for delivery in 2010 barely above its August high. This suggests that part of the recent rise in spot prices is expected to wash out over the longer run.
Just like Luv and Kush, our new breed of central bankers must also come with the head and heart to ask the right questions, and the courage to look beyond the obvious to take on too-big-to fail entities like Ram’s army.