oil refineries buy contracts for delivered oil

Post #263,120 by boxley 7/30/06 10:33:21 PM Reply	oil refineries buy contracts for delivered oil the futures market determines the price. It is being speculated well above demand price. This is the result of deliberate financial manipulation by enemies of the west and US pension funds and wall street profiteers. Its neither the oil companies or the government that is causing the rise in price, it is sheer speculaton. thanx bill Any opinions expressed by me are mine alone, posted from my home computer, on my own time as a free american and do not reflect the opinions of any person or company that I have had professional relations with in the past 50 years. meep
Post #263,127 by JayMehaffey 7/30/06 11:33:19 PM Reply	Not our government anyway Both India and China are a significant reason for the steady rise over the last couple of years. China in particular is trying to build up their own strategic petroleum reserve and has more dollars then they know what to do with. So any time the price begins to sag, China starts buying more. I wouldn't let the big oil companies off the hook though. While the current price is probably higher then they would like to see, it has become clear that during the late 90's and early 00's they intentionally set out to increase oil prices by reducing the over capacity of refineries in the US, despite the fact that oil demand was rising. Jay
Post #263,129 by drewk 7/30/06 11:37:52 PM Reply	Since I rarely believe in coincidence ... It seems unlikely the oil companies had nothing to do with the rise in prices, but it just so happens that lead to record profits. === Purveyor of Doc Hope's [link\|http://DocHope.com\|fresh-baked dog biscuits and pet treats]. [link\|http://DocHope.com\|http://DocHope.com]
Post #263,269 by orion 8/1/06 2:28:35 AM Reply	Indeed there are many factors but we must look at who benefits from the higher prices and wonder. Yet isn't it odd that local gas stations almost always charge the same price for gas and when one raised its price, the others raise their price as well? My brother works for a major gas station company and he says that they make 3 cents a gallon on average, yet if that is true the oil companies supplying the gas are overcharging the gas stations. He works for a gas station that sells food, soda, bread, and other stuff which make up for the low profit on gas sales. "It is of interest to note that while some dolphins are reported to have learned English -- up to fifty words used in correct context -- no human being has been reported to have learned dolphinese." Carl Sagan (1934 - 1996) [link\|http://district268.xormad.com\|I am from District 268].

Welcome to IWETHEY!