Raylar

Seems like I remember a few months back when this subject came up on OSO and the price of oil spiked up $10 or so in a few days we had all sorts of individuals here on OSO who were saying -" Speculators in Oil are not the problem with the high prices of oil !"

Well if that's the case how do you explain the big $5 drop in the price of oil a few hours after unemployment and jobs growth numbers were released yesterday morning?
Geez, did the demand for oil drop 4% in just a few hours?

Heck no, those speculators couldn't be responsible for a great part of the high price of oil, gasoline, diesel, and refined oil products, could they?? NAH! Who would think that?

Best Regards,
Ray @ Raylar

Rattlesnake Jake

iTrader: (2)

Speculators make money when it goes down as well as when it goes up. Read where the Saudis' upped production, that could make the supply greater than the demand.
Still paying 4.35/9 for diesel around here.

the mayor

I have noticed crude prices falling also. Pump prices here in southern Ohio have continued to climb 3.89 for 87 this week.
Also do you know the oil companies have exported more gas and diesel in the last 2 years than any time in the past 40 years.
Natural gas is next. Europe's price for natural gas is like 4 times the price here and the oil companies are planning to up the exports of our natural gas because of the larger profit margins.
I'm all for free markets but when it starts to drag the whole country down something has to be done. A few are making large profits at the expense of good hard working people.

Just do some searching you will find the facts.

Steve 1

This gets worse the Resident ,has authorized the release of oil from our SPR ,you see these LIARS want it both ways , they say drilling will not affect pricing of Oil , but this attempt to flood the market election time will.

looseconnection

Transcanada pipe line resubmitted to Feds last Thursday.

Raylar

I find that the market manipulation of things like oil and its devastating effect on our economy is changing some of my long held views and beliefs.
I am beginning to think that we as a people and nation need to understand that the oil and gas that lies under our country is a OUR natural resource and as such should not be allowed to be falsely manipulated and overpriced to our markets and damage and diminish our fragile economy and way of life by a few greedy markets and companies and individuals many of whom are not even US citizens! It is estimated that about 75%
or more of the speculation monies in oil come from foreign sources!!
The high MANIPULATED cost of oil and its direct effect on the price of oil, gas, refined oil products and the trickle down cost burden it puts on all consumed products IS THE SINGLE CURRENT GREATEST THREAT TO OUR TETTERING ECONOMY AND JOBS IN AMERICA !!

If you don't subscribe to this thought then I suggest you do more study in neccesities income spending in America!

This really scares the hell out of me and should scare you too!

Best Regards,
Ray @ Raylar

Formulabill

Don't guess it could have anything to do with Obama starting his campaign re election. Nah, just a thought.

the mayor

As I understand what I have read. The pipeline is to get the natural gas to port for export??????????????????

Expensive Date

Oil will be in the 80s a barrel by July 15. N/G will continue to drop till then also. There is so much N/G right now they are running out of places to put it.

Raylar

Only way oil will drop back to $80 a barrel by July is if our economy goes back into recession by then and I certainly hope that never happens. Trust me the people and companies with big positions in oil will not allow the price to drop that far if they have naything to do with it!

As for natural gas, yes we have an immense glut, but therin lies the problem, what do we do with it in summer in the short term. this could actually hurt the maintaing of a low price for gas as we have no more places to store it and we have not yet got enough American fleets and vehicles converted over to using it. We should quit burning so much coal and start burning more of this gas instead.

Best Regards,
Ray @ Raylar