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Good News, Crazy News.......Ed Wallace

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SCREAMING EAGLE-66 Rookie

SCREAMING EAGLE-66

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Scam??? ... so you think think the 1000's of companies in many countries got together and fixed the price?? There really are 1000's producing oil from the ground not just the few we buy gasoline from. Probably most production is from independent operators.. not large well known companies... [ maybe not in deep sea drilling ]

---Part of the price going up is due to speculators on Wall Street buying futures at unreasonable prices ... part is the increased demand of Asia. Lately the price per barrel of oil has been dropping and those that were buying futures likely are losing money. Buying those is a lot like going to Vegas. If you want to blame someone.... Wall Street guys get most of the "credit"... the rest is supply/demand.

---Where does the article say scam?? If there was one at all it hit the people buying futures and thinking they were getting a good deal based on faulty beliefs then losing their shirt as prices dropped to true values. .

..

Edited by SCREAMING EAGLE-66
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UNT90 Newbie

UNT90

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Once again, proof that spiking gas prices are nothing but a big scam. And even one of the biggest scam artists of all, T. Boone Pickens made the same claim as the other pundits mentioned in this article.

http://www.star-telegram.com/2012/06/30/4069458_good-news-crazy-news.html

And all this time I thought GWB was just trying to make his oil buddies rich.

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SilverEagle Mentor

SilverEagle

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Scam??? ... so you think think the 1000's of companies in many countries got together and fixed the price?? There really are 1000's producing oil from the ground not just the few we buy gasoline from. Probably most production is from independent operators.. not large well known companies... [ maybe not in deep sea drilling ]

---Part of the price going up is due to speculators on Wall Street buying futures at unreasonable prices ... part is the increased demand of Asia. Lately the price per barrel of oil has been dropping and those that were buying futures likely are losing money. Buying those is a lot like going to Vegas. If you want to blame someone.... Wall Street guys get most of the "credit"

Agree, some of the biggest scam artist of all....and who I am mainly talking about.

... the rest is supply/demand.

Alleged supply and demand

Edited by SilverEagle
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UNT90 Newbie

UNT90

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Scam??? ... so you think think the 1000's of companies in many countries got together and fixed the price?? There really are 1000's producing oil from the ground not just the few we buy gasoline from. Probably most production is from independent operators.. not large well known companies... [ maybe not in deep sea drilling ]

---Part of the price going up is due to speculators on Wall Street buying futures at unreasonable prices ... part is the increased demand of Asia. Lately the price per barrel of oil has been dropping and those that were buying futures likely are losing money. Buying those is a lot like going to Vegas. If you want to blame someone.... Wall Street guys get most of the "credit"

Agree, some of the biggest scam artist of all....and who I am mainly talking about.

... the rest is supply/demand.

Alleged supply and demand

Nah, it's Pres. Obama making his oil buddies rich.

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UNT90 Newbie

UNT90

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News last night... China in 1985 sold 5000 new cars.... last year 18,000,000... lot of demand there for gasoline plus everything thing else more modern and requires energy.

---not much "alleged" there..

So Pres. Obama is making his Chinese oil buddies rich?

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