Whats driving up oil prices again? Wall Street of course!

[giovonni]

Whats driving up oil prices again? Wall Street of course!

Kevin G. Hall | McClatchy Newspapers
last updated: April 01, 2010

WASHINGTON — Oil consumption has fallen, demand from U.S. motorists for gasoline is flat at best and refiners that turn crude into fuel are operating well below capacity. Yet oil prices keep marching toward $90 a barrel, pushing gasoline toward $3 a gallon in many markets, and prompting American drivers to ask, "What gives?"

Blame it on the same folks who brought you $140 oil and $4 gasoline in 2008: Wall Street speculators.

More;
http://www.mcclatchydc.com/2010/04/0...ces-again.html

[CetaceousOne]

Oh no, not again.

[Humble Janitor]

Studying economics, it has to be artificial. The demand is not there and yet prices rise? It's certainly not a natural mechanism of economics.

Regardless, this pathetic system will eventually collapse. Drive less, walk more, take the bus and your money doesn't go to these thieving fools.

[Lucrum]

You'd be surprised how much you still end up giving to those thieving fools.

At least around here, it was recently revealed that prices on bus and train tickets have risen in a faster pace than fuel prices. "Buy our expensive fuel or we'll punish you in other ways", is the message I get from that.

I've been wondering about the prices on alot of things lately, and it seems that even when there are bad days the stockmarket just keeps on climbing. That would not have been the case a couple years back, which we all saw.
I'm no economic expert by any means, but don't really have to be in order to see that something is up!