Must be true if you read it somewhere. And if one hundredth of one percent of a fungible commodity is produced way below the market price, how do you think that effects the market price?
The price of oil and gas at the pump is quite manipulated.
If true, why would they ever go down?
Part of the manipulation is the market place. If they produce too much product and can not sell it they lower the price to reduce inventory. Oil in the ground is a fixed inventory which can be manipulated by say someone like Obama closing much land to production. News stories can cause panic and even boycott of product manipulating the market. The main ruler of the market is the dollar so there are thousands of schemes to manipulate products to get more dollars. Dollars and greedy
rule the market.
I read somewhere that some could take crude oil out of the ground at $3.00
So how many gallons are in a barrel of Oil is it 55 gallons? $3.00 a gallon might be quite high for oil. The article was probably a hit piece to make some point and make the writer some cash and make someone a couple million dollars.