I found this article on a airline site. It explains what has happened in the commodities sector that is allowing oil prices to climb. Read and weep!
http://www.star-telegram.com/ed_wallace/story/659081.html
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quote:Originally posted by Howard Roark:
OK, I've stated this in about 3 or 4 posts. And, was told how wrong I was. That it was all big oil's fault.
quote:Originally posted by Pogo142:
Just to point out also that the Oil Corporations are recording Record Profits and it is so out of line that Congress held hearings on it.
It mainly comes by purchasing oil at a low price, sitting with it and then selling it when it rises.
Wall Street is making money in the speculative market and casuing the same "instability" brought to the housing market but the Oil Corporations are soaking it up also.
quote:Originally posted by Howard Roark:
Extra,
Do you anything concrete to add or just bumper sticker philosphy?
quote:That's the point of not building more refineries and only having a 9 day supply. It keeps the supply low and vulnerbale to price rises on the spot market.
With only a small inventory when a storm or disaster occurs, it raises the price of what's left. Every time Bush threatens Iran or there is some sort of crises the it causes panic in the market.
quote:Originally posted by Pogo142:
The drilling in ANWR will not increase the amount of refined oil in storage and it will not lower the price.
The Oil Corporations keep the supply low so that the price is vulnerable to world events. Keeps the market unstable. Not a hard thing to understand and I have explained it already.
I didn't say they couldn't build more refineries Howard, it's where they what to build them. They want to build them now but they want to build them where they can maximize profits at the cost of the environment of the local citizens.
Again, not such a hard thing to understand, especially when we have been going over it so many times.
It truly scares me that you say you work for the government. No wonder we are in such deep "Do Do."