Why are oil prices going up?

Is the price of oil rising steadily due to a shortage created by the War in Iraq? Will the conflict between Hezbollah and Israel drive the price up even more? Would you believe that neither has had an effect on the price of oil? Do you know that there is more oil available now than six years ago?

Remember a number of years ago when silver prices began to sharply increase? The market was going nuts. People all over the world began to panic and drove the prices even higher. Do you also remember what caused that sharp increase?  That’s right, these guys were deliberately causing the prices to go up in a scheme to fill their own pockets.

Would you believe that that is exactly why the price of oil is rising so sharply now? An economist on Fox News reports that the price of oil is being driven up by greedy speculators. He says the market doesn’t have a way to determine this fact. He also said if Congress would finally begin to realize what is really affecting the oil prices the problem could be fixed in a day!

 That is a very bold statement. I believe he’s right. If you watch when the prices go up you will see that as soon as there is a slight change in prices, a panic is created. That further increases the profits of these speculators. In my area the price will go up suddenly Friday evening and on Monday orearly Tuesday go back down. Every holiday the prices slowly start to rise. The next day after the holiday the price begins to drop back down. If you watch closely you will see that the price fluctuation doesn’t always affect all stations.

We need for Congress to really look at this and determine the validity. If that economist is right the governments ought to prosecute the greedy “b’s” and recapture all profits they have made and then put it a trust to help people in low incomes during times of severe need. Or at last do something of that nature to help people most in need. Those speculators should not be allowed to keep one damn penny of their illegally gained profits.

Doesn’t this make you angry.


~ by devildog6771 on July 16, 2006.

3 Responses to “Why are oil prices going up?”

  1. Silver, gold and oil with rise around 20 percent by the first quarter of 2010. Essentially this means that the buying power of the dollar will be 20 percent less. Unfortunately, this will be an inflationary hit that Americans cannot afford. Channeled Readings, LLC pubisher of the CR News Reports(c)

  2. Thank you Bob. I appreciate your comment.

  3. hello…im bob dole…this site is way cool yo…check me later

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