Re: Blaming speculators for high oil prices
by
Truth Hurts
07/15/2008, 8:16 PM
antigoglin:Not that I actually know, but wouldn't there be some differences between comodities that are renew able like cattle and grain, and ones that aren't like oil and say silver or copper?
I'm afraid nonrenewable resources would I feel take on a whole new topic in this case mostly oil as we were warned in the early 70's that we would run out someday, I wish we wouldn't have to wait till someday to come up with effective new technologies to steer us around our consumption on nonrenewable resources, easier said than done but will happen, kicking and screaming or not, oil has ran it's course.
On the subject of differences between comodities I don't see the big differnce except "hold time" Unlike grains and meat oil can be held forever under ground if needed to make the market fall in line with what should be spent to receive , the speculator is in both cases through connections and holding facilities to store such comodities until a negotionable profit can be reached for something never owned but controlled. I hope Im' not running of at the mouth, I'm trying to get a handle on this like everyone else with what I do know. Come's down to "Figures don't lie but lier's can figure" not mine but have used it for years.