What Happened to Greedy Oil Companies and Speculators?

What Happened to Greedy Oil Companies and Speculators?

10-26-2008, 12:14 PM

#1 (permalink)

HBarlow

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Join Date: Jun 2001 Location: South Plains of Texas Posts: 5,595

What Happened to Greedy Oil Companies and Speculators?

Several months ago some were ranting about the evil greedy oil companies and evil greedy crude oil speculators who were driving the price up. Some of the same haters could not, would not, accept the fact that the high prices at the pump were caused by the price of raw crude oil at the well head.

Now that American and world economies have weakened, demand for petroleum products have declined, and the price of crude has dropped, the prices of gasoline and diesel fuel at the pump have returned to a more affordable level.

Is that because the evil greedy oil companies have decided to give up their profits and operate as charities . . . or because Wall Street speculators in the future price of oil have decided to drive the prices down and loose money instead of making a profit?

Could it be that the high price of gas and diesel was caused by simple supply and demand as many of us knew and several of us tried to explain?

__________________
Harvey Barlow

2008 Ram 3500 SLT QC & Chassis w/ CM bed
2007 HitchHiker Discover America 32 LKTG
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