That tells me there were 26 gamblers in that card game. It is all still supply and demand -- the Speculators bid and bet that oil will go up, probably most of them also ''short'' half again as much as they bid long so as to hedge their bet. In the above transaction as described so far, nobody has bought a barrel of $150.00 oil yet. Now comes Mr.Refiner and he has sold all of his $4.00 per gallon gas and he needs more oil -- well it costs what it costs -- if Mr. Refiner and all of his competitors had plenty of gas stocked up and could hold off buying crude for a month or so then crude would be cheaper and Mr. Speculator would be poorer, you can bet some of those Speculators that got fat last year are holding their britches up with a clothesline now. What would you regulate? do you want the Goverment to tell people what they can invest their money in? I know you will still not agree but also think about this, how come oil was $150.00 a barrel all over the world if it was those evil American oil traders that ran the price up -- Japan has ironclad contracts in the Middle East guarunteeing them so many barrels a day, that oil wasn't going to come here regardless.
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Today's Featured Article - The River Tractor - by Charlie English Jr.. This is a 4010 John Deere that was used to farm on the Diamond Island which is in the Ohio River about 15 miles southwest of Evansville, Indiana. About ten years ago, this tractor was parked close to the bank as the river was washing the bank of the island away.
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