Saturday, September 24, 2005


A couple of days ago on CNBC:

CNBC: "Well, oil has been around $68 a barrel in the futures markets on the disruption concerns about Hurricane Rita, natural gas hit record highs, 9 Texas refineries have been shut as a precaution, as the category 5 storm continues to head toward the Texas coast here. Joining us to talk about how all of this will play out in the energy markets, what we're learning more as Rita heads towards the coast, Dan Yergin is chairman of Cambridge Energy Research and CNBC's Global Energy Expert and you've been attending a conference in New York today, Dan, at Goldman Sachs on, what was it called? The Top 10 Global Risks To The Economy?"

Yergin: "Exactly, and I was really surprised to see actually, oil was right up at the top, 81% of the 300 economists who were surveyed put oil as the number one both short and medium term risk, followed by global terrorism and the twin deficits and geopolitics."

"Really surprised"?