Oil prices are probably going up so much because it's becoming so expensive for the oil companies to ship it cuz they're "getting high on their own supply." I don't understand why it keeps going up. The demand doesn't change hardly at all, and I don't think we're running short.. They're just taking advantage!
Hopefully this is another "bubble", e.g. real estate, dot com etc...will be nice when this bubble bursts....
A lot of people have been shorting oil hoping to burst this bubble but so far they have been killed. Other people are still buying into this market. Hope they get killed when the oil market burst.
A lot of people have been shorting oil hoping to burst this bubble but so far they have been killed. Other people are still buying into this market. Hope they get killed when the oil market burst.
I heard some countries have even stop futures trading on oil period and/or stop announcing new increases on gas! Now talk about trying to stop runaway oil gas prices.....I guess soon we'll all go back to riding horses, donkeys, mules or camels...
- Eric
Last edited by env00; 06-06-2008 at 04:43 PM.
Reason: spelling
I am really hoping that the speculators that are hedging oil futures get torched and loose it all. With gas prices demand HAS to be down ... I know that the oil companies marketing expenses are up
It is sad, but a reset to around $3 would be nice and at least justifiable ... the bull**** they are pulling now is insane. Some woman in danville started setting fires in gas station restrooms to "protest" gas prices.
Some crazy bastard is going to start setting fires at the refineries that are local
this SUCKS...but I can't say that I'm entirely upset with the situation...This forces us to explore alternatives, gets the annoying SUVs, Hummers, etc off the road, and eases the Carbon load going into the atmosphere...so it's not ALL bad.
Corvette Store
Oil hit new high at $138.43 today
