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Home » Discuss » Topic Forums » Environment/Energy

puerco-bellies

(1000+ posts) Send PM | Profile | Ignore

Mon Nov-05-07 12:33 AM
Response to Original message

1. One more time..

It is not the traders or speculators that are driving the price. The oil traded on the N.Y Merc is only a tiny fraction of the petroleum products produced and sold in the U.S. Think about it. Do you think that crude produced from say, Mobile owned or leased fields, transported in Mobile owned tankers, delivered to Mobile owned refineries, and sold in Mobile owned outlets cost $90+ dollars a barrel to Mobile? Take it from a guy that used to trade commodity's, it ain't the markets that control the overall prices.

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