100 Dollar Oil; 4 Dollar Gas

Crude oil is up $40 per barrel so far in 2007, and this is just October. That’s an average of a 60% increase in less than a year. It has gone up 30% in just the past month. How would you like to have a 60% increase in your gross income in less than a year? As I said in one of my earlier post, the news media continues to be spokesperson for big business in the justification of almost daily increases of crude oil. However, today, October 26, 2007 (mark it down); one TV news outlet is beginning to ask questions. And when they did, they found a recent independent report that shows the current price of oil should be no more that $60 a barrel based on current supply & demand. What’s worse is the report also says that because of the same reason oil prices should not increase for another fifteen years. So what is going on?

Up until now we have been told that the rising price’s was due to supply & demand. And who determines the supply & demand ratio of oil? Could it be the supplier, the oil traders, or both? When was the last time you were told there was a limit of how much gas you could buy because there was a shortage? Or a limit on a product manufactured from oil because oil was running out? Now I am not saying there is an abundance of oil. But I am saying there are an awful lot of questions that need honest, non-biased answers. And if we listen to the suppliers & traders and their ardent supporters we will not get an honest, non-biased answer. But that seems to be who most of us are listening to.

Once again, I will go on record in saying that if we citizens do not start standing together and demanding a square deal we deserve what is happening to us. Any fair minded working man or woman that thinks big business is going to conduct themselves in an honest & moral manner in this matter is living with the illusion of a “perfect world”.

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lemming



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