StoptheBS

Speculation and the Price of Oil

Wow. So much technical data it must be accurate. Forget common sense. For the record, the oil market is not a free market - OPEC is a cartel that controls supply and influences pricing. What is a free market is the financial marketplace of commodity related products that can be invested in, and just like the share price of Google, when you have more buyers than sellers the price will rise - it's that simple. Go look at how much institutional money and hedge money now considers commodities (oil) the key asset class. Once again it's as easy as following the money. Windfall profits are not coming from the oil companies, check the speculators.