Is the price of oil being manipulated by someone? What do you think?

It is crazy to see the price of oil in 3 folds now compared to few months ago. I wonder what will happen to the citizens of the countries who does not have oil revenue and are completly dependant on importing oil when their country is not that developed.

8 Responses to “Is the price of oil being manipulated by someone? What do you think?”

  1. loup-garou Says:

    Of course. Only a slobbering cretin believes that the price of oil is market driven. The falling dollar is also being manipulated by the same people. Currency dumping drives exchange rates, and when the amounts are hunreds of $billions, it can make a difference of a few cents on each cycle. During the course of one day, with several cycles of currency dumping, the dollar can drop several cents, and the ***** Bank makes hundreds o$millions profit.

    The market could easily be driven the other direction, but at the moment there is the incentive of falling real estate prices in the U.S., so a devalued dollar will allow investments to be made at the bottom on the inflationary curve being created. Then the process will reverse, and it all starts over again in a few years.

    The U.S. economy is very very profitable to those who can manipulate it and who know in advance what direction markets are to be forced. What may look like random stupidity or market driven fluctuations are neither. There was a very good reason that Christ scourged the Money Changers (quintessential capitalists) and drove them from the Temple.

    .

  2. rammmmmmmmmmmu Says:

    ya i think it is cause someone wants to be greedy!

  3. djominous20 Says:

    its the comodity brokers on the stock market that are truely jacking it , but opec does have some influence on how many barrels are made daily

  4. louis Says:

    The Bushes own oil wells in Kwait and Saudi Arabia.
    So elect a president that doesn’t own oil wells and they are making record profits so they could lower the gas prices.
    Which they will just before elections.

  5. AntoineBachmann Says:

    it is NOT a 3 fold increase at all. It is more like 100 a barrel, vs. 60 a barrel, over a year. You have to go back maybe two years to get to 30.

    But yes, it is up a lot, for sure.

    causes?
    – the dollar is down a lot vs. major currencies such as the EUR or the GBP, so you could argue that the price of oil in EUR has gone up less, and the rest is just the USD sliding
    – experts don’t agree but it looks like we may be around "peak oil" ie the moment of peak oil producing capacity. If that’s right then oil production is going to decline from here, whereas oil consumption gives no signs of abating. That’s a recipe for not 100 dollar oil, but for 200 or 300 or 1’000 dollar oil

    Of course you’re right, countries that import oil, will see a negative impact on their economies, at first. Then they will have the option to start using the oil better. I mean the U.S. needs about 2x as much energy per unit of GDP, as most of the rest of the West – why is that?

    We could all drive reasonable cars, we could all drive less, many communities could set up good public transport systems. We could all have well-insulated homes, we could all use air-cond only when really necessary and then only to get the rooms to 65 not 55. We could all have solar pre-heating of domestic water thus getting 2/3rds of our hot water for free. We could have photovoltaic panels for free electricity, on all roofs.

    That’s the good side of 100 dollar oil – maybe painful at first, but could have positive consequences in the future. Not least of all, positive for the planet.

  6. AZ Imagined Says:

    Of course, the price of oil is being manipulated. Most of you are too young to remember the oil shortages of the 1970s which were also manipulated. I can’t really say where it gets started, but most people involved go along with it because it means bigger profits for everyone.

    Some say it is Iran and Venezuela trying to drive up the price to hurt the Americans. Others might say it’s the oil companies. The price at the pump (in America) is certainly being manipulated by the refineries. About the only folks not getting in on the windfall are the folks who actually sell you gasoline at the station…their cut is still just one or two cents on the gallon.

    Of course, the tree-huggers fall right into the trap of assuming this has something to do with how much oil is in the ground, because it does not have squat to do with that and everything about the manipulation of the market. 30 years from now everyone who thinks this had to do with "peak oil" or a shortage of any kind will be eating their petroleum-laced cake…just like the environmentalists of the 1970s.

    And yeah, you did exaggerate the magnitude of this price increase just a tad…at least in regard to the timeframe. Frankly, I like expensive gas at the pump…and so should every liberal on the planet. How else are you going to encourage people to conserve and consider alternatives if it doesn’t hurt them in the pocketbook? And, yes, I own a hybrid car for my short commutes resulting from the choice to live close to where I work. (That’s when I don’t ride my bike.) I laugh when I fill up my car each month (or less often).

  7. michael l Says:

    Yes, some 6 billion are manipulating the price!

  8. abenezerscroogexxx Says:

    it is being manipulated by many people.