On May 17, 9:56*am, "Lew Hodgett" wrote:
"Swingman" wrote:
Supply and demand have NOTHING to do with the current price of oil,
instead
put the blame squarely where it lies ... greed, by hedge funds and
other
speculators, using manipulation made possible by regulatory
differences
between global stock markets.

The real problem is the weakness of the USD.

The price of oil is tied to the USD.



Some pundits speculate that it was the underlying cause for getting
rid of Sadam; he wanted to switch to the Euro.
The same bunch thinks that the sabre-rattling with Iran is all about
that too.

If oil no longer holds up the USD, the US economy collapses.

It's always the same: Follow the money!

The huge tax breaks for the rich is just another transfer of wealth
before the corps starts to rot.