Comment 27957

By Mr. Meister (anonymous) | Posted December 20, 2008 at 23:09:46

What I've always found perplexing about the oil prices is: Who is setting the prices and who is making the money?

The opec countries are not raising the price in fact when the price was skyrocketing they increased production in an effort to stabilize prices. How much of this is being caused by speculators? Look at the collapse and near collapse of some of the huge banks. Most people lost money but who made money? Hedge funds, speculators.

There is no evidence to show we are not producing enough oil just a lot of evidence to show the price can go up.

The oil prices are not solely the result of supply and demand, many other forces are at work.

The price for gold toilet seats was never as high as when gold flirted with $1000.00 an ounce.

I don't know what is going to happen with oil prices but it is not just about peak production and demand.

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