So when are we going to stop allowing casinos to determine the price of gas and food?

UAE oil minister says price spikes "crazy"
Tue Jun 10, 2008 1:38pm EDT

By Scott Haggett - Analysis

CALGARY, Alberta (Reuters) - Recent huge spikes in oil prices are "crazy" and unrelated to supply and demand fundamentals as world markets are adequately supplied with crude, the United Arab Emirates energy minister told Reuters on Tuesday.
 
Quote from travelingtrader:

UAE oil minister says price spikes "crazy"
Tue Jun 10, 2008 1:38pm EDT

By Scott Haggett - Analysis

CALGARY, Alberta (Reuters) - Recent huge spikes in oil prices are "crazy" and unrelated to supply and demand fundamentals as world markets are adequately supplied with crude, the United Arab Emirates energy minister told Reuters on Tuesday.
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Maybe the minister from UAE should STFU! It's these price spikes paying 6% of his salary.
 
At some point the oil producers are going to get worried about the speculators triggering massive investment in alternative energy. Then they will actively seek to have the price of oil lowered. I think we have reached that point.
 
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