Thread: Crude Oil hits $120
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Old 05-06-2008, 10:08 AM
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Quote:
Originally Posted by Binky Bainbridge View Post
Is the economics of a free market working in terms of oil? I say this in view of the fact that hedge funds have been heavily speculating in future oil prices and thus have been driving up prices against the reality of what's happening in the market place. If this is the case shouldn't the US government be stepping in to sort this abuse out that is affecting us all for the financial benefit of a few ultra-rich billionaires?

Perhaps 60% of today's Crude Oil Price is Pure Speculation :: The Market Oracle :: Financial Markets Analysis & Forecasting Free Website
Binky I think if you'll read some of the past posts on this board you'll see that high oil prices are due to enviormentalists, Democrats, Chinese, Indians (not native--yet!), no new refineries, global markets, etc. It has nothing to do with abuse, profiteering, etc. Nah, not the innocent oil companies...........
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