Who is sending up oil prices

So you think it is some fat cat speculators and that by dumping oil from the SPR with no notice we are hurting them? No O has got that one wrong too (yet again):

http://oilprice.com/Energy/Oil-Prices/C ... rices.html

Of course, nobody on this board will be surprised so why are the idiots in DC not aware. Of course, they knew all along and it was to make the rich,richer. All paid for by $50,000 a plate dinners to raise money for reelection.

Coalnewbie,Forget about the pie charts and pricing graphics.I have been watching this process since the 5 gallon maximum gas station lines of the 70's. It goes like this: the prices work their way up until it hurts enough to get notoriety and discussion.It then gets on the evening news for a week or so.People get on their phones and call their elected.Our elected Bigs haul the oil company's Bigs in to Washington to testify.The oil company Bigs get accused of price jacking. They deny price jacking.The elected Bigs blow hot air aIl around but accept the wisdom of the oil Bigs. All concern vanishes and the situation returns to business as usual.We call our elected Bigs and tell them Thanks for working on our behalf. Mike

Mike,

Being an old fart too I have seen it all before and I agree to the process. All I report on is the near future price which is already dialed into the mix - so let me continue.

Gas $4.31 at the pump in two weeks -

Current cash price $3.15 (spot)

Add $1.16 for State & Fed Tax, distribution, wholesaler and retailer profit.

So a question, is this the start of a hyperinflationary run.

The $4 trillion increase to debt limit fuels the inflation fire.

Weimar Redux

Perhaps I am just a little crabby due to the heat.

Now if they would drag the 'speculators' in before Congress and rake them over the coals, we might see something happen! All oil should be on the commodities market, not the futures!

Interesting but logistically impossible.How much is left in the ground, how much is going to be pumped with natural and man made obstacles, where are all the tankers bound for etc. Oil is a true fungible product and as I read really smart guys at theoildrum.com, I realize nobody knows if we are in contango or backwardization at any time. Hence sometimes invisible forces seem to drive it to $140 and then down to $35 and some really bright guys with deep pockets get fried on both sides of the trade. All I can gleam from this is that supplies are tight and Os energy policies are a disaster which we will now pay for. So if you are waiting for that plunge to $35 to fill up - good luck. I have decided the age of cheap energy is over (other than coal). God help us all.

It's probably the declining value of the US Dollar that is causing oil prices to rise. You can't print trillions of them out of thin air and expect foreign goods to remain at low prices. Every new dollar generated out of thin air must inveitably bleed a bit of purchasing value off of the currently existing dollars.

There was a guy who worked in the oil biz back in the 70's during that "crisis" that lived near my grandfather.

While everyone was waiting in lines, he told him that tankers with thousands of gallons of oil were sitting idle out in the ocean for over a YEAR. He even heard rumors of gas being dumped in the desert. It was a 100% man-made crisis. Drove the prices up & made the oil people lots of cash.

you all could learn alot by watching glenn beck . he's been talking about this for awhile . inflation !!! another guy i found on alex jones show talks about the price and supply of oil . lindsey williams . he was the pastor on the alaska pipeline . he spent alot of time with big oil . the ultra rich set the price . like david rockefeller and others . when they inflate our dollar it make other countries money worth more . it takes less of thier dollars to buy oil . tring to level the field . lindsey williams has some videos on youtube . look for (energy non-crisis) he says there is hundreds of years of oil in alaska alone . they are starting to drill more in alaska right now and they are not telling us . he talked about a new rig they set . its the biggest in the world . called the liberty rig you can find the video of them setting it you on youtube . the super run the hole world . they own the polititions . everyone needs to stop watching the news on TV . they are not telling us anything . what they are telling us is lies . i have been seaching youtube lot for the last few months . it is sick what is really going on in the world .

Our Pharoh Obama, and his puppet master George Sorros, aren't helping matters any. Obama goes to Brazil and give them $2 Billion of OUR taxpayer dollars, to drill offshore there (company owned by Sorros), yet forbids us to drill for our own natural resources. Obama and Sorros' agenda is to destroy the economy of the USA bit by bit, and turn us into a toothless member of the so called "new world order" run by that most corrupt of corrupt organizations, the United Nations.

it is sick what is really going on in the world .

So how about starting Masons news corner forum. I will read what you have to say any day of the week rather than the lies on TV.

Yeah and I wouldn't count on anything that comes out of Glen Beck's mouth either!

DennisH wrote:Obama and Sorros' agenda is to destroy the economy of the USA bit by bit, and turn us into a toothless member of the so called "new world order" run by that most corrupt of corrupt organizations, the United Nations.

coalnewbie wrote: So how about starting Masons news corner forum. I will read what you have to say any day of the week rather than the lies on TV.

Wow easy guys. Or my new world order will crash down upon you with lightning bolts and fire from the pits of hell. C'mon now lets get real. We elect all these idiots so the blame goes on all our shoulders.