Oil Prices soar, again
I know that experts will say that there is instability in the Middle East and that there is decreased supply in the face of increased demand. Horse Feathers. I don’t think that’s why the price of oil is climbing. I think that the oil companies are trying to get in their last minute mega-profits while George Bush is in office. Under a Democratic President and Congress there would be investigations into price gouging. Congress will roll back the tax cuts that the Bush administration gave to the Oil industry.
We are seeing greed. Soon we will be paying for greed also, at the pumps.
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From MSNBC.com:
Oil futures retreated from a record $89 a barrel Wednesday, ending lower after government data showing larger-than-expected gas and oil supplies outweighed worries about tension in northern Iraq.
Trading was volatile throughout the session as oil futures were buffeted by a number of headlines, including news that Turkey’s parliament approved a government plan to attack Kurdish rebels in northern Iraq and word of an explosion at a small refinery in Montana.
Reports by the Energy Department, the International Energy Agency and the Organization of Petroleum Exporting Countries over the past week have all supported a view that oil supplies are falling as demand is growing. (more…)
