Posted on 09/12/2006 9:34:07 AM PDT by Ernest_at_the_Beach
Crude is lower!
An attack on our embassy was foiled!
Nothing but bad news! But, on the bright side, some folks do have "jitters". Unfortunately, that's not having much of a negative effect on things (yet).
Just the mention of the Syria incident this morning had them pushing that button gleefully, never mind that it had nothing to do with oil.
However once word got out that it was nothing, they had no choice but to go back to watching that button.
I have said it before and I will say it again, Supply and Demand my rump. Speculators control oil prices not the consumer.
Speculators can make money on the price going down as easily as it going up. A steady high price is not driven by speculation. If a speculator buys futures at $75 a barrel and sells it at $75 barrel it cost them money for the trade.
I have the distinct impression that the Islamists are shorting oil futures, and planning an event to spike the prices and cash out for more Russian, French, Chinese, and German arms purchases....any ideas?
How would you explain Goldman & Saks idiotic statement that oil was going to hit $100.00 per barrel within a few months last year? Don't suppose it was because they had the highest investment in oil related stocks of any other company?
Nah, that couldn't be it. Or this mornings price on oil going from negative to positive on the Syrian incident? Or the jump in crude because some idiot said that there might be a Hurricane forming in the Atlantic?
I could name 100's more incidents that prove my point but those will suffice.
That was before Clinton deregulated the commodities markets.
It's not the same playing field today.
I see crude nose dived today ... down about a 1.90 and gasoline futures also dropped a few more pennies as well.
The energy commodities market was regulated in 1999?
December 2000.
http://www.americanthinker.com/articles.php?article_id=5747
Thank you. Oil future contracts are a global commodity and traded on several exchanges. Was this a global change or just a change to allow American markets to do the same as the rest of the markets?
If they've found a way to make money by being short on a commodity when the price goes UP, they're smarter than we are.
$1.80 down is not a foot, but it is more than an inch.
I believe the price may be coming down BECAUSE they're shorting them, and they will cash out soon......
Ah, okay, now I follow you....
Retail gasoline prices are still up there $2.75 to 2.95...for 87 grade.
Most commoldities have bounced up a little this morning, except natural gas at $5.50. Retail gasoline in Fairbanks remains $2.89, similar to northern and northwest states.
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