Monday January 12, 2009, 6:27 am
How do they get away with this? I am really sick of all the greedy people in the world.

Tuesday January 13, 2009, 3:03 pm

Funny how when I was running for Congress this past election and wrote an OpEd about this very thing for our local paper, they declined to print it!! I knew it was speculation driving the prices, NOT supply and demand as everyone was trying to pass off. I wrote about this way back in June or July.

I'm mighty sick of this crap, too, and with Congress not regulating things like they should, too. If you knew what all has gone on, you'd crap your pants. Our food isn't safe either, but Congress does nothing. Sickening! If you want change to go along with Obama, you have GOT to get decent people into Congress...in your own area and everywhere! Check out my website at: www.schneider2008.com I'll be running again and will take help from anyone!

Tuesday January 13, 2009, 3:15 pm
Speculation is an integral part of the commodities market and IS directly tied to supply and demand. It (and its cousin, hedging) is speculation on FUTURE supply and demand. At the time oil prices were rising, many investors were speculating oil would keep rising (demand would be outstripping supply). At the same time there were other investors speculating on it falling in the future (selling it short) and driving it down.
Speculation has also contributed to the fall in oil prices. It fell faster than it went up. Many more investors recently have been speculating that future demand vs. supply is going to go down.
This is the way the markets work and is not a bad thing. It eventually balances itself. Before we start thinking some greedy individual is driving this consider the fact that CalPERS, the California Public Employees Retirement System, has been a big speculator in oil and made money off it to fund its many retirees.
These markets were not behaving erratically. A lot of investors looked at the supply of oil vs. demand and THOUGHT they saw a future growing shortage. They were wrong and the ones that kept speculating too long that the price would continue to go up (buying long) ended up losing.

Sunday April 28, 2013, 2:36 pm
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