There has never been an oil or natural shortage which was not manmade.
Supply and demand do not provide justification for the increases. What is driving the gouging is the stock market.
How?
The increase in oil futures investment is the primary culprit.
This drives the price up.
And of course it further lines the pockets of the minority who can afford to invest in stocks.
Just another bonanza for the well off at the expense of the majority.
Capitalism at its' finest.
Originally posted by lordhighgusSorry, just read this after posting. I was in Poland 2 weeks ago and it was about 4.4 Zlotys a litre, the exchange rate made it on a par with the UK. I couldn't believe it.
Begeezus!
Anyone know the price in Europe and Eastern Europe?
Pack of smokes was under 2 quid, in the UK it's getting on for 6
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Originally posted by darvlayDunno how they worked out the UK price, I'm with AVD and make it $10.65.
Global Gas Prices:
http://money.cnn.com/pf/features/lists/global_gasprices/
EDIT - Can't confirm the date that article was published. 😕
EDIT2 - In Toronto, gas is $1.30 a litre. ($5.20/gallon)
Althought here was a link on the page to a story about a barrel of oil dropping below $127. I need to look at the news.
Agreed on the date, but I don't think I was driving when fuel was that cheap
Originally posted by caissad4Hear hear!
There has never been an oil or natural shortage which was not manmade.
Supply and demand do not provide justification for the increases. What is driving the gouging is the stock market.
How?
The increase in oil futures investment is the primary culprit.
This drives the price up.
And of course it further lines the pockets of the minority who can afford ...[text shortened]... st another bonanza for the well off at the expense of the majority.
Capitalism at its' finest.
Exactly right.
Originally posted by jebrydzaginIt's mostly speculators at this point driving the cost of oil futures higher and higher.
I would love to hear a clear and cogent argument as to how the 'evil oil companies' are the cause of current gas and diesel prices. Can you supply one?
Goldman Sachs forecasts $200/barrel by next year. Guess which company controls the largest oil futures fund?
10 years ago oil futures speculation was around $20 Billion. This year its $500 billion.
When you increase the demand for oil futures, guess what happens to the price????
Prices will come down when the speculators get outta the market....and that will happen when consumption decreases as prices get too high and people stop buying gigantic trucks and SUV's and the economy takes a tumble.
Oil prices are in a bubble right now...and like all bubbles, it will burst