black gold
I love reading all these articles and some of the comments about oil going up to $142 per barrel today.
whay are people so surprised?
there's a week to go until July 4...don't we all remember the guy from Morgan Stanley predicting prices will be $150 by the 4th? Of course they need to meet that prediction. Prices jumped a record increase the day of and after the announcement. How can anyone believe that 'supply and demand' is the reason for these increases and that it's not the speculators that are driving up the prices and lining their pockets? Someone sneezes in Nigeria and prices go up. Israel performed drills showing that they could attack(they didn't actually do it...just ran a drill) Iran if necessary....prices go up.
Supply and demand? Where are all the numbers that show there is more demand for the oil that is being supplied? Why isn't the government asking for those numbers and proof that it's actually the case?
The chief of OPEC even said that the price increases have nothing to do with supply. They apparently have "plenty of oil" to satisfy the world's needs.
whay are people so surprised?
there's a week to go until July 4...don't we all remember the guy from Morgan Stanley predicting prices will be $150 by the 4th? Of course they need to meet that prediction. Prices jumped a record increase the day of and after the announcement. How can anyone believe that 'supply and demand' is the reason for these increases and that it's not the speculators that are driving up the prices and lining their pockets? Someone sneezes in Nigeria and prices go up. Israel performed drills showing that they could attack(they didn't actually do it...just ran a drill) Iran if necessary....prices go up.
Supply and demand? Where are all the numbers that show there is more demand for the oil that is being supplied? Why isn't the government asking for those numbers and proof that it's actually the case?
The chief of OPEC even said that the price increases have nothing to do with supply. They apparently have "plenty of oil" to satisfy the world's needs.