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In the meantime, the death from the quake and tsunami now over 10,000 with more than 17,000 people still missing. meanwhile the crisis in the middle east has prices near $105 a barrel today. and prices will likely be here for a while. economists expect prices to remain high, hovering around the $100 per barrel mark through at least 2013. before the revolution in egypt, oil was trading under $90 a barrel. so how much will these high oil prices drag on our economic recovery? and could it prompt americans to cut back or even rethink our approach to energy entirely? joining me now, an oil trader at the mercantile exchange. he s also author of this new book oil s endless bid. welcome, dan. what s the right way to think about these oil spikes? you ve been in these markets for years. it s not always just the supply and demand that it seems to be, there are other forces at work. in fact, there are forces ....
Detailed text transcripts for TV channel - MSNBC - 20140325:00:54:30 vimarsana.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from vimarsana.com Daily Mail and Mail on Sunday newspapers.
Detailed text transcripts for TV channel - MSNBC - 20140325:03:54:30 vimarsana.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from vimarsana.com Daily Mail and Mail on Sunday newspapers.
Detailed text transcripts for TV channel - MSNBC - 20140325:07:54:30 vimarsana.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from vimarsana.com Daily Mail and Mail on Sunday newspapers.
True. joining us now, dan dicker, author of oil s endless bid. he is a trader with 25 years trading experience. call me dan, chris, as you always do on your own show. dan, can we start with a really basic question. every time i report on this and look at corporate profits, it s more profitable than just about anything else. $130 begin last year alone. why is it so profitable? why is extracting oil from the ground and selling on the market so profitable? my econ 101 instincts tells me it s not a competitive market and if it were, the profits would go down. no. it s cheap to get. the old picture of the oil spewing out with everybody dancing around, this is $2 a barrel to get out of the ground. ....