On Thu, 11 Sep 2008 09:55:58 -0500, "Leon"
wrote:


"Swingman" wrote in message
news
... and judging by posts hereabouts on crude prices the past few months,
that a goodly percentage of wRec participants are more capable than
congress of making valid judgments regarding the why's and wherefores of
national energy policy:

http://news.yahoo.com/s/ap/20080910/...il_speculation

IOW, all the asses in congress, combined, have failed to exhibit enough
judgment to make a single pimple on a wooddorkers butt.
--
www.e-woodshop.net
Last update: 8/18/08
KarlC@ (the obvious)


I have said this time and again. When the oil companies started to merge
they cut out 1/2 the competition. If pricing was truly the result of supply
and demand we all would have been sitting in lines to gas up like we did
back in the 70's.

Since I was one of those working in the industry and became part of
the "competition" that was eliminated, I would agree wholeheartedly

Speculation and "What the market will Bare" is what's going on here. US oil
consumption was down 6 months before prices shop up to $4.00 per gallon.
The demand began it's decline in the fall of last year.

I still think you are confusing crude supply/demand curves with
refined product costs. U. S. Oil consumption is only one part of the
demand curve. When you buy that Chinese whatever in Walmart, you are
living in the USA and driving up crude demand in China.

When the consumer quit driving, U. S. Demand went down. When the
consumer quit spending, worldwide demand went down.

Hey, if you are willing to pay $4.00 per gallon there is certainly plenty to
go around, same goes at $3.25 per gallon.