OilI know, I know I just have to ask. This past Monday the 2nd of June oil fell 7 bucks a barrel followed by 3 or 4 bucks on Tuesday. Wednesday and Thursday another little gain day and then suddenly today with the unemployment figures annouced BOOM up it goes 8 bucks to new records. How is unemployment related to supply and demand? I'm thinking less demand since more people out of work. This is why in my opinion this crap is totally gauging and price manipulation.
I'm waiting because I know I'm in for the "Economy 101" lecture again. I really don't want to hear it. I want the truth out and this crap to stop lining the pockets of people doing things that the SEC said they are not supposed to be doing.
Submitted by finder on Fri, 06/06/2008 - 4:18pm.
Let's think Enron on steroids. If I were heavily invested in oil I'd be selling and moving into some other sector. I see a major crash of the oil futures market in the making. The problem is when it does it will make Enron look like the Tastee Freeze on the corner went out of business. There is way too much 'off shore' 'invisible' trading going on. Something that Enron set up in '91 if I remember correctly. Mike Heemer People are talking about ...Here are the recent blog postings with the most comments. |
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If it was supply/demand and macroeconomics, it would make more sense, but the prices are set by futures traders who are "speculating". I've heard several economist blame them exclusively for the high price of gasoline.
I want to either:
A. find out who these speculators are
or
B. Fint out how I can get in on the action!