RV Fuel Issues & Prices - Post 'Em Here!

onrecess wrote:
Here's why:
"In June 2006, oil traded in futures markets at some $60 a barrel and the Senate investigation estimated that some $25 of that was due to pure financial speculation. One analyst estimated in August 2005 that US oil inventory levels suggested WTI crude prices should be around $25 a barrel, and not $60.

That would mean today that at least $50 to $60 or more of today’s $115 a barrel price is due to pure hedge fund and financial institution speculation. However, given the unchanged equilibrium in global oil supply and demand over recent months amid the explosive rise in oil futures prices traded on Nymex and ICE exchanges in New York and London it is more likely that as much as 60% of the today oil price is pure speculation. "
Read financial sense: more:http://www.financialsense.com/editorials/engdahl/2008/0502.html

Screwed by deregulation and lack of regulation and nothing else. Don't be idiotic. We have been using the same amount of oil and blaming a giant and SUDDEN increase on traditional levels of demand is nothing BUT idiotic.
You're welcome.