Originally Posted by GXP Venom
We got broke $4 for regular today. Premium $4.26. Diesel $4.39
Just UNREAL. With Japan canceling shipments there is a glut in the market, the Saudi'* cut a quarter of a million barrels a day because they have no where to put it, and Obama Care turn'* it'* back as big oil screws us on the premise of a couple Arab uprisings. I don't see any "Change" in him. Black, Arab, or White....it'* all about the GREEN.
Somewhat true, but Obama did try to launch an investigation into the commodity speculators to see if they were doing anything illegal. Of course, there'* very little illegal about whats done on Wall Street, even if its outright immoral. Its not about supply and demand of actual barrels, its the supply and demand of these speculators pushing this price up. Oil executives think the price will be coming down, as well as Wall Streets most influential analysts (Goldman Sachs) are telling investors to back off of oil or they will kill growth. GS put this out about two weeks ago, and we have just been teetering at around 107-113 per barrel since.