Tuesday, July 15, 2008

Oil Trader

Now i know for sure what I will be doing for next 5-6 months..I will be buying oil..it doesnt sound exciting until I specify its the crude oil which has been giving shocks to all of us for past some time now..And I am not going to help matter further since I will be one of the speculators betting on price movements of the Oil which you need to motor through daily routine.
It all seems very exciting and am learning about world economics and politics which I always seem to be interested in but did not have much of clue..(I needed someone to spoon-feed me and now I have got my initial dose..The rest I will do myself..)
One thing which I just came to know is that oil market operates for 22hrs(5:30am-3:30am IST...sigh)..I have my work cut out(PHEW!!!!)...
Also I learned is that during the 1973 oil crisis US president introduced odd-even rationing (only people with an odd-numbered license plate could purchase gas on an odd-numbered day)..
Similarly,a three-color flag system was used to denote gasoline availability at petrol pumps. A green flag denoted abundant gasoline, a yellow flag denoted rationed sales and a red flag denoted that no gasoline was available but the petrol pumps was open for other services..
Lets see what this crisis brings to US...I hope the worst

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