It is the trading and speculation that is bumping the price so quickly. Before deregulation, oil trades cleared in one place.
In this way, it was clear when someone was making a move to corner or jack prices. Now, after deregulation, it trades all
over the place, so if you have the cash and the nads, you can corner it and dump to make some quick money.
Both parties have had a piece of deregulation over the years. The motive? Quick easy money. The down side is what we
have today. The entire world economy tipping over the edge held back by amazing gov spending. Oh, that and stupid pricing
on the stuff we need. Not good for anybody.......except the guy cornering/dumping. Until he gets caught in his zipper...
When the morg thing hit, every one pulled there money out of the market and oil to cover losses. The guys holding oil futures
got creamed because that money was needed else where, so people sold the futures. Oil dropped like a rock. Had nothing to
do with supply and demand of the juice, it was the money. So, we are at the point where the investment vehicle is doing the
driving, not that which is being bought and sold. Until reasonable rules are again in place( regulation) we will continue to get
creamed and our very way of life will hang in the balance. Not very comforting.