Oil price manipulation... Thank Enron, Phil Gramm, Tom DeLay and more...
 

http://www.star-telegram.com/ed_wall...ry/651928.html
http://www.star-telegram.com/ed_wall...ry/659081.html

.....and throw the mortgage crisis in there as well...

if its solely their fault why is diesel, a fuel that is cheaper and easier to refine than regular gas, $1 more per gallon? looks like price fixing to me

fuck the oil companies

Good Times.

dont forget this guy "no really. Inflation is only 2%"

http://msnbcmedia4.msn.com/j/msnbc/C...d_3p.widec.jpg

Love your Towlie sig. I have a bunch of towlie stuff. Even got the talking towlie statue and beach towel. :)

There's several things going on, market manipulation is just one of them... I have no doubt there's some price fixing, gouging etc. going on as well. It's a mad money grab at this point...

When the books come out about this time,it will be interesting reading.

yeah, strong dollar policy :1orglaugh


chart of FED liquidity additions into system and commodities rise (ETF DBC which tracks basic commodities):

http://www.elispics.biz/fed.jpg

Both of them correlate...

So you have "technically bankrupt" wallstreet banks (bankrupted without FED repo operations) trying to get out of their own mess by playing a commodity boom. Great.

Add to that mix recent devalution of USD by FED monetary policy, causing everyone and his gradmma speculate in hard assets like oil and food....
Of course there are supply problems too, but when you add to the mix speculation, it makes things only worse.



By the way, Central Eurobank head told it few weeks ago: "to cut interest rates at this point would be the same as taxing the people to bail out the banks. Cost of extra inflation would be the ultimate sign of moral hazard to save banks."

:2 cents:

I read recently that one of the reasons is that Diesel is in high demand as most other nations includeing Africa use diesel vehicles. With the high demend, it has actually become profitable to export diesel out of the USA and make a larger profit.

To answer your question it's the cost of such high world demand for diesel compared to unleaded gasoline.

See after reading the links he gave,I dont think its that.

everyone will ignore our posts about the fed because they still believe its "supply and demand" "peak oil" "the war in Iraq" "the evil oil companies" because it is far better to think that then the reality that the USA is about to be bankrupt if there is not a drastic change. :disgust

or maybe its the new "cleaner" diesel that our already over strained refineries are making. less sulfur, more cost! all i know is record profits for an industry that gets government subsidies bothers me.