Monday, April 26, 2010

Why did fat cat oil execs and other evil speculators stop fixing oil prices and give consumers a break?

What happened? Why did those price fixing fat cats in the executive suite at Big Oil and those evil speculators buying oil futures contracts take their foot off of the neck of poor little consumers and let oil prices collapse? Surely prices haven't come down because economies in recession use a whole lot less oil, right? Like in 1998, when oil prices collapsed together with Asian ';Tiger'; economies?Why did fat cat oil execs and other evil speculators stop fixing oil prices and give consumers a break?
Supply and demand brother. Demand is very low, as most Americans are suffering through hard economic times and driving much lessWhy did fat cat oil execs and other evil speculators stop fixing oil prices and give consumers a break?
Maybe they felt guilty? Nah, that can't be it. The price per barrel sure has plunged though. Notice that the prices in the stores haven't come down yet, and probably won't. Maybe it was a plot to get store pricing up?
you forgot to consider the value of the dollar
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