At MoneyShow Dallas, Dennis Gartman on rising oil prices: A net net positive for energy corporations, consumers, investors, asks Hillary Kramer. The loser is the consumer, no question. Some energy companies will profit by it, he says. On balance, higher energy prices are detrimental to any economy anywhere. If you can get WTI back to $55 maybe $60/barrel, producers will be happy because they can make money at that. Consumers will be happy, they can live with that. At $85-$90/barrel, it is detrimental to all globally. Fracking will continue to be an expanding industry. Buy what frackers need: sand, pipe. Why made the money in the gold rush 1849: the guy who sold and made pans, Levis, mules, not the miners themselves. Higher prices beneficial to societies in Mideast? Likely not.
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