More proof oil companies are ripping us off

They have unlimited supply of toilet paper...

True, but you still claimed that they have nothing to do with the price of oil. There's not an investment expert on the planet who agrees with you, so how about sharing the secret information they haven't discovered yet?

When did I do that?

I don't have any.

Nonetheless, you have yet to show that the recent increase in oil prices is because of speculators.

Jeff

Maybe you're right. Are you saying that speculators did not affect only THIS MOST RECENT increase in oil prices, but that they may have affected previous increases?

All I am saying is that people have made the claim that speculators are affecting oil prices. However, I have yet to see good evidence to back these claims.

It has been reported that the current run up in crude is due to speculators. They think the oil producing countries are going to hell in a handbasket, and they are bidding up the prices. The first link says the Saudis will step up and full the short that Libya represents, the second link says 60% of the run up in price comes from speculators.

I suppose I don't need to be telling this to Joe, he appears to get it. I should be posting it to Dr. Jeff. He seems to not get it at all.

Every so often, we agree. Jeff, on the other hand, has been living in the dark.

You need to read more, "doctor".

Wrong. Show the evidence that the oil prices would not be going up if there were not oil speculators. I have yet to see the evidence that it is the oil speculators that is the problem.

Again, I am not saying it is not them. I am saying that the evidence that it is them has not been presented.

Jeff

What you're telling me is that I need to do your work to support your claim.

jeff

I did the work a long time ago, "doctor". Why didn't YOU do the work? Notice the dates on these articles?

Now you're changing your original statement, but you don't realize you're doing it.

They can only rip you off becasue you let them. Cut down on consumption.

Ed

If you buy less of their product, their profits will go down.

Ed

Yes, we know that, Ed. But for many people, there's a "floor" below which it's impossible to lower consumption any further.

I am sure their are such people, but I don't know many of them. Most people I know have the opportunity to decrease their use of gas/oil/electricity significantly. The fact that they choose not to tells me the price of oil is not so out of whack as some people claim.

Ed

Out of whack when? This week, or three weeks ago? It's got almost nothing to do with supply and demand.

Sure it does - with preceived supply. Is there plenty of oil, yes there is. Are people now riding around with an extra 5 gallons on average - I bet many are. Panic buying leads to price increases. Oil companies want to make as much as they can (as do I). I suppose you are one of the hopeless liberal whiners who wants to blame all of the worlds problems on big corporations. Man-up, quit being a whiner. If demand drops by 10% gasoline prices will fall. Do something positive. Quit spreading the loser gospel.

Ed