Quote:
And can someone please tell me why i have to take it up the a-s from Exon mobil,on both ends,one at the gas pump,and the other as a stockholder.
Which set of creeps are more responsible for the high costs of oil,the commodities traders or the oil companies.How come no one can really explain to me who is responsible for the daily increases in oil prices.
|
This was an interesting article about steve forbes predictions on oil prices in 2005.
http://www.telegraph.co.uk/money/mai...31/ixcity.html
Mr Forbes said the whole concept of the strategic reserve was pushing prices higher. "The speculators know now that no matter what happens to the price of oil Uncle Sam is there buying almost every day," he said. "Stop the buying and in fact throw some of that oil on the open market, boy that would throw it in turmoil and send the price down."
The oil market has become a target for investors, since the returns have been significantly higher than those from the stock or bond markets in the past couple of years. Fundamentally there is enough oil to go around. Stockpiles are full and Saudi Arabia has promised to step up production to 11m barrels a day.
"This is sheer bubble speculation. I'll be blunt, there's hardly a hedge fund in North America that hasn't speculated on oil futures," said Mr Forbes. He added that when prices did fall, the impact would make the dotcom collapse "look like a picnic".