Quote:
Originally Posted by mulp
PS, if the speculators are driving the price up from the Saudi set $110 a barrel to $135, when the demand falls back and the price collapses, the price will fall to $80 as the market is cleared of losing contracts, the deregulated hedge funds will lose billions, the Fed will need to bail out some bank, and then the price of oil will stabilize at $110.
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Thanks Mulp for your post, Its so complicated to follow the money sometimes. You seem to have a much better understanding of this oil mess than I do but What if the demand does not fall back for a few years? Closing the Enron loophole would still be a part of the problem solved don't you think?
I couldn't help wondering if the Saudi's told Bush to take a hike maybe it was because they were charging us as they always had but with the speculators now taking in 40 percent of a 120 barrel of oil, the saudi's felt this was not thier problem because it wasn't of their making. And
thought something like...hey thats your American problem, we are just doing buisness how we have always done buisness, you made it easy with the enron loophole for the speculators to run roughshod on your own people so why blame us? I value your opinion Mulp on this issue.