Posted by jhilyer on May 18, 2011 at 06:36:28 from (168.169.37.135):
Just heard on the radio this morning that the American Petroleum Institute says "oil reserves are suprisingly high" right now. Huh.
Unless gas prices are about to take a "suprising" dive, I'd say that pretty much shoots the law of supply and demand. Seems to me the system is broken.
But I don't blame the oil companies, and this crap about whether to keep tax breaks for them or not is a sham. I can't fault them for making a profit - that's the capitalist system, and it's worked pretty well over the years.
Futures traders, man. Driving the price of oil up. What do you think?
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