So - in 21 months, the price of oil has basically doubled. I just don't believe all the supply/demand mumbo-jumbo. That would indicate that a scarcity of major proportions.
Somebody somewhere is pocketing insane profits at the cost of consumers. Nothing wrong with profit, except when it is gained through fraud and deceit which I am firmly convinced is the case here. Global supplies are not drastically down. Consumption has not doubled in the last 21 months. I believe that prices are being manipulated - and I solidly put the blame on Saudi Arabia and it's cartel of international crime bosses.
I remember reading right here on FR a few years back about how oil prices at the time were too low to make it profitable to supply our own oil needs - or even to significantly produce oil here. Well - if oil at it's current price wouldn't be profitable to produce, something is wrong. Yet, other than ANWAR, what efforts are underway to bolster our domestic production?
And yes, I know that the enviro-nazi crowd bears some blame - but not for doubled oil prices and gasoline prices that are headed to that same figure.
I am truly getting concerned at what the current trend in fuel prices is going to do to our strengthening economy picture. I also find it difficult to believe that the prices have put no dent in consumer demand for fuel. Most people I know have curtailed driving habits, cut extra driving, parking their gas-drinking machines as much as possible.
