Quote:
Originally Posted by bhutocracy
Er. This is very wrong.
BUYERS are SPECULATING they will be able to SELL HIGHER... buyers are buying.. sellers are selling.. there is no difference right now compared to ten years ago except the market is waking up to peak oil. There is no coercion.. Is it irrationally high right now? Sure.. the market isn't always right, but it should and needs to be nearly this high (it'll probably settle closer to $100)
You currently have a relatively free market oil price... if you want to talk distortion try the trillion dollars a year America spends on oil, I mean national security.
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Free market means you have to have the money to buy what you are buying. Right now there is no regulation and you have people with no money backing them up hedging that oil will go higher. That's the biggest problem. That and the dollar being the pile of shite that it is.