chipmonk

all the signs for the bubble bursting have already happened. because of the non-regulation of the speculators, they can simply change the rules of the game to keep the prices rising. they purchase, then hoard millions of gallons of oil that were on their way to the market, to make it look like supplies are low (they can eventually unload this oil, when they think the price has peaked), sell futures contract for 3 years out, so that contango doesn't affect the money their making, then they release statements that they see oil at $150-$200/barrel in the near future, to scare the price up.

DBLR

The talking heads on TV this morning said that when gas gets caught up to the $138.00 oil the price will be $5.50. The only reason gas is only $4.00 is that the price of it has not yet caught up yet to the $138. 00 oil and with gas at $4.00 its still reflects oil at $89.00 a barrel. What a bunch of BS and a big lie for you to not worry why they keep raising gas up even when the price drops. They would love to see gas in the USA at $9.00 just like the EU has so they can have a few more trillion in the bank to and buy more commodes to control an shaft us.

bama

havent you guys heard the latest??now theyre talking 200 bucks a barrel!!........150 came to easy i guess!!!

chadder1313

Hmm with all this BS they wonder why this country is in a recession.

Argo

lol. I hate stupid people. and it really seems like there are alot of stupid people falling for the tactics of the predictors..... they drive the price up and they all follow them like little ducklings behind their mommy... oh well... their bubble will burst but it is just a matter of when. diesel is $4.49 down the street from my house at one station and 4.59 at most others.....

ian515

one of the stations I go to went from 4.71 to 4.53, then morgan stanley announced the 150 a barrel tactic and I rushed out to fuel the truck before the next day when the price jumped .24!! and they say the gas price is reflecting an average of oil costs? I dont think it would drop, then jump .24 if it was an AVERAGE

P.J

Yesterday I heard the Saudis have now come out and are warning us that the current price of oil is "unfounded" and doesn't make any sense. Contrary to what EVERYONE and their brother has been telling us, the price is NOT in line with normal supply and demand forces.

Ya think?

chipmonk

scary when we turn to the saudis for the straight poop, huh.

GalenEdgewood

They're tired of being the target of every one's anger. Shoot, if I were them and it wasn't me controlling the prices, I'd be dropping dimes like crazy too. (That's assuming that they aren't the ones controlling the prices, of course.)

DBLR

Heck even Iran came out and said they had to put oil in to tankers for storage in March and April 2008 as they pumped more oil then there was buyers. to many greedy people are the ones driving up the price and they could care less if the bring the whole world economy down to its knees so long as they have the big piles of cash in there pocket to buy the next big money maker an screw us some more.

capt.Ron

I wouldn't believe ANYTHING from the mouths of the Iranians.
They'd like nothing more than to see this country in financial straights.

unbob

Here's an article that explains why this is true --
60% of today’s oil price is pure speculation

chipmonk

i don't believe ANYTHING that comes from the mouths of the oil companies, investment banks, or speculators.
they'd like nothing more than to see this country paying $10/gallon.

Clayten

So now we know what is going on. The question is, how is it stopped?

P.J

Unfortunately,......regulation.

That, or we all sit home for a week and totally crush the "demand" side of this problem.