Oil dismisses supply drop as refinery runs rise to records

The Economy Would Tank Without Him.

All the gold may be in a bank in Beverly Hills, Calif. in someone else's name but it came from outer space. The USA Today reports "There's gold in them thar neutron stars! That's right, astronomers claim Earth's gold, the stuff of wedding bands and pricey speaker wires, originated in cataclysmic collisions of exotic stars. The glinting on your wedding band was likely born in a cataclysmic merger of two exceedingly exotic stars, astronomers report Wednesday.  Dying stars billions of years ago cooked up most of the lighter elements in the universe, the oxygen in the air and calcium of our bones, and blasted it across the cosmos in their final explosive moments. We are stardust, as the singer Joni Mitchell put it. But some of the heaviest atoms, including gold, defied this explanation, requiring an even more exotic origin.

“A team led by Harvard astronomer Edo Berger now reports that gold is likely created as an after effect of the collision of two "neutron" stars. Neutron stars are themselves the collapsed remains of imploded stars, incredibly dense stellar objects that weigh at least 1.4 times as much as the sun but which are thought to be less than 10 miles wide.  While ordinary stars explode about once every century in our galaxy, Berger says, explosive collisions of two neutron stars happen only about once every 10,000 years. And it appears they spew out gold and other heavy elements in the week after their merger. "Call it the golden glow," Berger says. "In this case, we were able to observe it for the first time and see how the merger seems to be producing (the) heavy elements."

Gold of course did not get help from Ben Bernanke. The big short continues. The record shorts saw no reason to get out because Ben still says the tapering may begin! In the mean times the specs are praying that today Ben Bernanke will give them a break!

About the Author
Phil Flynn

Senior energy analyst at The PRICE Futures Group and a Fox Business Network contributor. He is one of the world's leading market analysts, providing individual investors, professional traders, and institutions with up-to-the-minute investment and risk management insight into global petroleum, gasoline, and energy markets. His precise and timely forecasts have come to be in great demand by industry and media worldwide and his impressive career goes back almost three decades, gaining attention with his market calls and energetic personality as writer of The Energy Report. You can contact Phil by phone at (888) 264-5665 or by email at pflynn@pricegroup.com. Learn even more on our website at www.pricegroup.com.

 

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