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re: Why is the price of oil going up?

Posted on 4/6/10 at 11:03 am to
Posted by Bard
Definitely NOT an admin
Member since Oct 2008
51994 posts
Posted on 4/6/10 at 11:03 am to
quote:

When gas prices fell from the stupid high prices a couple of years ago it has nothing to do with supply/demand.


Funny how that happened RIGHT AFTER then-President Bush removed executive restrictions on an assload of territory, eh? IIRC, that happened during the summer. "Speculation doesn't cause price jumps" my arse.
Posted by TejasHorn
High Plains Driftin'
Member since Mar 2007
11022 posts
Posted on 4/6/10 at 3:14 pm to
Speculators drove it up to near $150 before and it'll happen again. Remember when the oil analysts and others had us believe it was a supply issue and would never drop below $115??

All the time they were making bank in the futures markets.

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