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Give me a break. Oil is a global market. Speculators across the world are bidding up its price. Some of them live in nations where they're not even allowed to vote at all. So please, stop trying to blame the Republicans for the fluctuations of a global market.
You are wasting your time on a rabidly partisan person with no educational background in finance or economics. For the record, I'm a moderate that voted libertarian in the last presidential election...gee....I wonder whom these guys vote for....in every single election....at every level.
A willingness to suspend economic analysis because they've drank the kool-aid.
Hmmm....perhaps this will be the future America: like some Asian countries of today. Lots of bicycles and mopeds, very few autos (except for the rich)....
The US pays among the lowest fuel prices in the world. There is no conspiracy, there is no Republican agenda. Oil companies make billions, but last time I checked it also cost billions to get dino juice from the ground. It doesn't walk to the pump for free. Last time I checked, no one gave a flip about oil companies in the 80's when oil was $12 a barrel and there were tens of thousands of people out of work in the industry. But hey they made money last year. oooooohh the boogey man is at the door. They must be evil. Give me a break.
The oil price is a futures market, and uncertainty makes markets nervous, which drives up prices.
People should just take a deep breath and worry about bigger things than the cost of a gallon of gas.
It has nothing to do with uncertainty. It has everything to do with excess liquidity being injected into the financial sector. Just chart GOOG versus Crude Oil ($WTIC). It's still trading at the same multiple of 8 that it was trading at over a year ago, and at not much more than the 7.5 multiple two years ago. There's less money going into mortgage securities, real estate, etc. since those areas have an overhang of sellers who want to get out. New injections of liquidity that's introduced to try to buoy those areas instead go to investments, such as GOOG, AAPL, RIMM, FXI, Crude Oil, Gold, and other commodities, that were going strong regardless of the real estate problems. Throwing more money at the system to try to bail out real estate and the investment banks is just adding to the inflation problem.
Agreed. No conspiracy. Just plain old price gouging. You don't need conspiracy to that.
Why is it only "gouging" when prices are unusually high? Did anyone accuse the consumers of "gouging" the producers 10 years ago when oil was $12 a barrel and gasoline was 85 cents a gallon? Should they not have been paying more to keep producers from going out of business?
It's not gouging. It's simple supply and demand, with the added pressure of inflation as lchoro points out. Though I disagree with his proposition that inflation is the only factor.
Give me a break. Oil is a global market. Speculators across the world are bidding up its price. Some of them live in nations where they're not even allowed to vote at all. So please, stop trying to blame the Republicans for the fluctuations of a global market.
Right............
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