Quote:
Originally Posted by mynameisjim
My position is that there is no conspiracy, but the market is not free at this point and is being exploited by a very small number of players.
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if a market is being exploited by a very small number of players. isnt that the definition of conspiracy?
My own take is that the oil market does have speculative excesses, just like every other financial asset traded on an exchange. Anytime the oil market reprices "in anticipation" of a supply or demand shock, speculation is in full effect. & my thinking is that the small # of players amplify the price adjustments & derive higher profits then they would otherwise get in a rational market. Its no coincidence to me that Exxon always reports its highest profits at the same time consumers are getting killed by the price of gas.