Less than a week ago crude oil futures were pressing close to $150/ b. Thus round 3,566 of the "It's gonna blow through all the way to $200 or $300...there's no stoppin' it... $10 gasoline by Labor Day!!" filled the airwaves and papers of America. Then, after three days of plunging, crude oil futures closed below $130 yesterday. Checking the local paper, The Metrolina Disturber, this morning I found exactly zero stories about this three day drop. Cheer up media types! A good short covering rally going into the weekend and you'll be able to put those big headlines up again: OIL SOARS.
Above is James Dean as Jett Rink, a fella of low means and poor character who gets dipped in oil riches in the half-great movie GIANT. Half-great because the first half is great and the second half only has some good moments. Still, half-great is better than most of the sludge they're pumpin' out in Hollywood these days.
Jett: Everybody thought I had a duster. You all thought Spindletop and Burkburnett was all the oil there was.
I’m here to tell you it ain’t, boy. It’s here. There ain’t a dang thing you gonna do about it.
My well came in big, so big… And there’s more down there, bigger wells.
I’m here to tell you it ain’t, boy. It’s here. There ain’t a dang thing you gonna do about it.
My well came in big, so big… And there’s more down there, bigger wells.
I’m rich, Bick! I’m a rich 'un. I’m a rich boy.
I’m gonna have more money than you ever thought you could have. You and the rest of you stinkin' sons of Benedicts.
Then he makes a crude pass at Mrs. Benedict and Bick socks him on the jaw. Jett runs away. But, he is a rich 'un. Oh yeah, he's a rich boy, and nothin' but trouble.
