If the price of oil is the result of supply and demand, then the current price is based on the real increase in demand from China and India and the threat of supply disruptions.
This supply threat can be blamed on the war in Iraq and the recent price spike based on the Israel / Iran conflict possibility.
If you take that theory as fact it then seems rather ironic that the very government that sanctioned the war in Iraq now spends most of their time blaming oil executives and speculators for the high price of crude oil.
If the war in Iraq was supposed to "secure" the American oil supply it has failed massively, or at least done so at an enormous cost. Congress has done a nice job of hiding that fact while they focus the American population on "evil" oil executives and speculators.
The questions should be coming towards congress not from them.
Meanwhile traders trade.
http://tradingcrude.blogspot.com/
This supply threat can be blamed on the war in Iraq and the recent price spike based on the Israel / Iran conflict possibility.
If you take that theory as fact it then seems rather ironic that the very government that sanctioned the war in Iraq now spends most of their time blaming oil executives and speculators for the high price of crude oil.
If the war in Iraq was supposed to "secure" the American oil supply it has failed massively, or at least done so at an enormous cost. Congress has done a nice job of hiding that fact while they focus the American population on "evil" oil executives and speculators.
The questions should be coming towards congress not from them.
Meanwhile traders trade.
http://tradingcrude.blogspot.com/