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1732 Views 3 Replies 3 Participants Last post by  joseph3354
Hi folks,
As an electric-veteran, for many, many years I am glad that OPEC is finally "cutting it's own throat" by raising fuel prices for petroleum products so high. I'm sad for those whose livelehood soley depends on transportation but; this may convince them all to "shun" the OPEC countries for the "greedy-grabbers"they undoubtably are.:)
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If I was OPEC, I would be selling my oil high also.

We are only getting 15% of our oil from them......can they then control how much we pay for the rest of the 85%?

I don't believe it is them, but Wall Street traders and speculators that are driving the price up.

Remember the 70s? A controlled shortage then, a controlled price now...

Someone mentioned on the radio the other day, that all speculators should have to fork over the actual cash, before they could trade any oil stocks.

Instead of a "paper price" we might get a better actual price on a lot of things.
 

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have to agree with you coley.i keep reading of how the government is "thinking " about stepping in to regulate these speculators.i don't know if this is going to help or not.according to the oil companies their profits are sinking due to curtailed demand for their products.meanwhile the speculators are driving up oil prices claiming uncertain supply.how does that work? less demand generally means more inventory,which means less supply is needed,so why are the prices skyrocketing?it is a mystery.....:)
 
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