Steve
06-13-2009, 08:37 AM
Ok, just when it looks like we're on our way to an economic recovery, the speculators are back in the market driving the cost of oil and gas well above and beyond supply and demand.
Don't let anyone lie to you, like T. Boones Pickens (he's a smooth talker, but he's not telling the truth) who's telling tales about lack of oil and refineries being at full capaticy, then hedging his funds on oil speculation, oil consumption is WAAAAAAAAY down from what it was a few years ago.
The facts are that the US has more oil in the strategic reserve than in the past decade. There are oil tankers full with oil that are just sitting in the middle east, in an attempt to decrease supply -- to increase demand price.
My concern is that the sudden rise in gas prices will kill the economy again! If you take a look at what the average family spends on gasoline in a year, they consume maybe 1,000 gallons of gas in a year. The difference between these wild swings in gas prices will save that family up to about $2,500 per year. It's all going into the pockets of these oil speculators.
Don't let anyone lie to you, like T. Boones Pickens (he's a smooth talker, but he's not telling the truth) who's telling tales about lack of oil and refineries being at full capaticy, then hedging his funds on oil speculation, oil consumption is WAAAAAAAAY down from what it was a few years ago.
The facts are that the US has more oil in the strategic reserve than in the past decade. There are oil tankers full with oil that are just sitting in the middle east, in an attempt to decrease supply -- to increase demand price.
My concern is that the sudden rise in gas prices will kill the economy again! If you take a look at what the average family spends on gasoline in a year, they consume maybe 1,000 gallons of gas in a year. The difference between these wild swings in gas prices will save that family up to about $2,500 per year. It's all going into the pockets of these oil speculators.