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re: Why is the price of oil going up?
Posted on 4/6/10 at 11:03 am to Catman88
Posted on 4/6/10 at 11:03 am to Catman88
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.
1
Posted on 4/6/10 at 3:14 pm to Bard
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.
All the time they were making bank in the futures markets.
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