Winter Hits Hard Spiking Oil

Tuesday, January 18, 2005 | 05:35 AM

Farmers_almanac_bgyellow734

File this under Read It Here First: Early December, we noted that the Farmer's Almanac predicted a rough winter:

“November through January will be mild, with little snow and milder-than-normal temperatures, but by the end of March, winter will be remembered for above-normal snowfall and below-normal temperatures, on average, especially in the south. The coldest periods will be mid-December, mid-January, and from late February through mid-March. The heaviest snowfalls will occur in early, mid- and late February and early and mid-March.”

The upper mid-west area says: “Winter will be colder than normal, with above-normal snowfall in the east and below-normal snowfall in the west. After a cold November, December through early February will be much milder than normal, on average. The remainder of February through mid-March will be exceptionally cold. Other cold periods will occur in late December and mid-January. The snowiest periods will be near Christmas and in late March.”

The temperature today (1/18/05) is not expected to go over 18 degrees. As I write this (5:29am EST), Oil is back over $49. Futures are notably weak.

 

Farmers_sunProps go to the Farmer's Almanac, who makes their weather predictions a full year in advance -- and still run an 80%+ success rate . . .

Tuesday, January 18, 2005 | 05:35 AM | Permalink | Comments (0) | TrackBack (1)
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» Chilly from Left of Center
So under favorable circumstances (low driving demand, warm winter weather, no new problems with Yukos etc.) the floor on oil right now seems to be above $40.00 a barrel, and under intermediately unfavorable circumstances (cold weather, Iraqi producti... [Read More]

Tracked on Jan 18, 2005 8:21:18 AM

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