$135 a barrel

[dedazo]

$135 A Barrel.

 

[Quimby]

tomorrow by noon.

next.

 

[GOULET!]

$150 easy by the end of June. $200 by years end. There is nothing to stop it.

 

[Smacktard]

$135 A Barrel.

I'm really glad D!ck Durbin (D) 'grilled' the oil execs today, he really showed them! Take all the profits you want D!ck, the price of a gallon of gas (without profits) is still over $3.50. The Republicans were too intoxicated with their power (after '94) to ever make right what the Democrats have done been doing all along, pandering to the lobbyists, ignoring the real problem and then grandstanding to show the folks back home they 'mean business'. Symbolism over subtance. The best footnote ever for politics in a modern America.

 

[Swass]

Speculators, it's them.

 

[satpak77]

Speculators, it's them.

please explain why you think this

 

[Max Powers]

please explain why you think this

No its soccer moms driving their SUVs

 

[Smacktard]

please explain why you think this

I read that the bloated-payoff-pork-feast, known as the Farm Bill, closes the Enron Loophole. This loop hole allows the trading of energy commodities by large firms on OTC electronic exchanges to be exempted from CFTC oversight. Hence, the Goverment can't monitor the trades. So maybe the bloated farm bill passage is a good thing...

 

[JECKEL]

Speculators, it's them.

please explain why you think this


CNN had a good take on this subject earlier today, but I missed a lot of the substance.

What I did take from the report was that the current supply and demand for oil should place the cost of a barrel somewhere between $60 and $85. The report stated that "speculators" and the investments folks alone are driving up the price per barrel by $50 to $75.

The report concluded that the over-the-top price of oil was due mainly by investor greed and speculator hype and not the result of the Big Oil Companies or the Arab world.

Hopefully CNN will run that report again.

 

[Crzipilot]

CNBC had something along the same lines. Only cought a second of it, but after the bell the talking heads were looking at each other, and some interview guy, and basically they were saying. We don't know why it's gone so high, there isn't the fundamentals for it to be that high...etc etc....
Anyways...