Category Archives: speculators

>President Obama’s Weekly Address 5/14/11: Expanding Responsible Oil Production in America

>As part of his long-term plan to reduce our reliance on foreign oil, President Obama lays out his strategy to continue expanding safe and responsible domestic oil production.

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Filed under domestic oil production, foreign oil, high gas prices, Off shore oil drilling, President Obama, speculators, weekly address

CBS: Did Wall Street speculators create oil price bubble?

Raw Story – One of the most inexplicable economic events of the past year involved the doubling of the price of oil last spring and summer from $69 a barrel to nearly $150 — driving gasoline and heating oil costs through the roof — followed by its even more rapid collapse this fall to under $50

60 Minutes looked into various theories of what happened and concluded that “many people believe it was a speculative bubble .. and that it had more to do with traders and speculators on Wall Street than with oil company executives or sheiks in Saudi Arabia.”

Oil is traded on the commodities futures market, whose original purpose was to enable farmers and manufacturers to stabilize their expenses and receipts. But in 2007, those markets began to behave erratically.

Read More about it >>>HERE

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Filed under 60 Minutes, CBS News, commodities, oil companies, Oil Prices, Raw Story, Saudi Arabia, speculators, Wall Street

CBS: Did Wall Street speculators create oil price bubble?

Raw Story – One of the most inexplicable economic events of the past year involved the doubling of the price of oil last spring and summer from $69 a barrel to nearly $150 — driving gasoline and heating oil costs through the roof — followed by its even more rapid collapse this fall to under $50

60 Minutes looked into various theories of what happened and concluded that “many people believe it was a speculative bubble .. and that it had more to do with traders and speculators on Wall Street than with oil company executives or sheiks in Saudi Arabia.”

Oil is traded on the commodities futures market, whose original purpose was to enable farmers and manufacturers to stabilize their expenses and receipts. But in 2007, those markets began to behave erratically.

Read More about it >>>HERE

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Filed under 60 Minutes, CBS News, commodities, oil companies, Oil Prices, Raw Story, Saudi Arabia, speculators, Wall Street

>Why Oil Prices Skyrocketed

>With the cost of crude oil surging to record highs, a heated battle of blame is in full swing, with a lineup of suspects that includes the oil industry, Congress, commodity speculators, environmentalists and developing countries in Asia….

So opens the article that I was reading on Livescience.com.
The article is a quick rundown on the reasons why the cost of oil has risen so much over the past year.

Click on the headline to read the article

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Filed under Asia, environmentalists, Oil industry, Oil Prices, Peak oil, speculators

Why Oil Prices Skyrocketed

With the cost of crude oil surging to record highs, a heated battle of blame is in full swing, with a lineup of suspects that includes the oil industry, Congress, commodity speculators, environmentalists and developing countries in Asia….

So opens the article that I was reading on Livescience.com.
The article is a quick rundown on the reasons why the cost of oil has risen so much over the past year.

Click on the headline to read the article

Leave a comment

Filed under Asia, environmentalists, Oil industry, Oil Prices, Peak oil, speculators