Image via WikipediaThis week, CNBC commentators were asking if "Wheat is the new oil"! Of course they were referring to the troubles in the Russian Wheat pool and a possible 20% reduction in Canada's wheat crop this year and the impact of these two, otherwise unrelated events, on the price of grain, specifically Wheat. They were also wondering is "Potash the new oil". (the hostile bid on Potash Corp by BP Billiton) My Deja Vu senses awakened when I heard the comments. It took me back a year when the same CNBC pundits were asking, "Is Lithium the new oil" (electric car batteries) and two years ago when they asked "Is natural gas the new oil". (new shale gas discoveries) It even took me back to the turn of the century (this century of course) when the same pundits were asking "Is hydrogen the new oil"! (hydrogen fuel cell vehicles)
