I am a small oil trader..and I don’t drive up prices, because I never take delivery of a contract or store it waiting for a hire price. All commodities have futures..and they only help to stabilize prices. Usually the small guys loose, since they tend to follow the bubble up and down.
What you all need to understand that even a small shortage..can cause a violent up tick in real prices consumers pay(consumers are refiners and retail)..
Conservatives need to defend our free enterprise system..and until you start seeing tankers lined up full and waiting for higher prices(Like Iran maybe)..speculators are not creating the shortage.
I hedge on these..because I am a consumer of oil and want to make some of the profit to cover my growing cost of fuel for my vehicles..RV and car. With diesel selling at 4.64..and getting 12mpg..I can use it. So when I think oil companies or oil is selling cheap..I buy. So far it is working. I have more than covered all my fuel costs in a soaring situation.
So wise up conservatives..we live in a free country for the time being. I would like to see if freer and have less taxes..so I will take my best shot at voting for McCain and GOP.
You had me all the way up to your last sentence.