Originally posted by bgp1mpin
Edited: 9/1/2008 1:51:41 PM by bgp1mpin
a response to ice: oil companies aren't running up the oil prices its middle men speculators who are buying the oil before its out of the ground its commodities trading same thing that happens to orange juice beef corn soy and everything else this country produces while the oil companies do benefit from the high prices its the middle men that have the power over the price of oil not oil companies
it was just a fig of speech. But i know all about the oil business... or most of it , or some of it , or just what i can read on the News / stock markets on the net....its not just the speculators whos driving up the prices .... after reading many many articles , theres alot of factors why gas is so high....the main thing , is the Greedy people , from OPEC , oil companies, government and etc...but it kills me that in 2007 if you divide up the total profit that Exon had, it would equal $1007 per second for the whole year.... thats just profit...read this and see what theyre doing this
yearhttp://www.al.com/opinion/huntsvilletimes/index.ssf?/base/opinion/1219915009317820.xml&coll=1its funny how i live off the gulf and hear from many Oil workers how they find oil , and pressurize them and cap them off and move onto another area, but yet claiming tight supplies...its funny how much tight supplies we suppose to have and we're selling refined oil to other countries?here you go , read this or similar article ....
http://www.guardian.co.uk/business/feedarticle/7768643basicly OPEC is worried that oil will be under $100 barrel soon, so theyre gonna cut productions to make supplies tighter so they can keep the price high.
so Specs are not the only ones driving the oil / gas up.... its Everyone thats in this greedy market....
but i know this is not what this thread is about.... but i just wanted to shed some light since i got called out some.. lol... dont get me wrong, im not getting mad or anything... just explain my side / point ...
later