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March 15, 2012

Filed under: Uncategorized — Essentiality.net @ 6:55 pm

Tallboy52's Blog

I have said before that the primary reason for the increased price of oil is not economic, nor is it based on demand. But instead the whole thing is based on Speculators gambling on oil availability as a result of conflict in the mid east.  Well, I guess I am not the only one saying this now there is a U.S. Senator who is claiming the same thing. According to Senator Bernie Sanders, a decade ago speculators controlled only 30% of the oil future market, now they control 80%. Whats more, many of those buying or selling this oil on the commodity market will never use a drop of this oil.  The sole function of these speculators is to make as much money as the can and as fast as they can.  Mr. Franks said in a Release to CNN News.

While the events of the world might fuel the speculators…

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