1.0link91872<![CDATA[Oil at $111 a Barrel: We Are Being "Sovereignly Screwed"!]]>http://www.huffingtonpost.com/raymond-j-learsy/oil-at-111-a-barrel-we-ar_b_91872.htmlThe price of oil has diverged from fundamentals in such a dramatic way that it is placing our economy at grave and immediate risk, not to speak of the consequences of the enormous, unprecedented transfer of wealth that is taking place.
There are no crude oil shortages. Commercial inventories of crude oil, even excluding our Strategic Petroleum Reserve are 9% higher than they were at the end of last year. Crude inventories increased in seven of the last eight weeks. This...