Posted by Clarkbug on January 26, 2009 at 03:29:44 from (72.83.194.188):
I think one of the biggest issues with the whole OPEC thing is that the oil prices per barrel are no longer really attached to the supply available. The price was up so high last year due to the investors pushing the price up there. There wasnt any shortages or breakage in refineries. It simply was pushed that high because people wanted to invest in it.
Now that its in the tank, there is talk about reducing the supply and trying to bring it back up, but Wall Street somehow is in control of what the price per barrel is, and that translates to what the prices are at the pumps.
I think that sort of trading should just stop, it sure would help the stability of the market.
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