Posted by MoparNorm on Wednesday, September 20, 2006 at 9:19AM :
In Reply to: I Jest Knew It... posted by Ugg at IL on Wednesday, September 20, 2006 at 3:39AM :
How to you arrive at a defense of the oil companies from my post? It was a explaination of how supply and demand becomes disrupted when regulators meddle with economic law.
The fact that the price is DROPPING like a rock is proof of that theory and of my position in my posts of several weeks ago. High prices stiffle demand, SPECULATORS, not oil retailers, control the market right now, they ran oil futures up on speculation of short supply, the high prices lowered demand, the actual price dropped, hopefully oil specuators lost their shirts. I warned here many weeks ago that it was the worst possible time to buy oil futures when a forum member advocated buying at $70 per barrel, the market speculator price right now is nearing $60 and could drop below that. Take oil speculators and governement market meddling out of the system and you would have oil at $30 per barrel.
MN