Quote:
Originally Posted by Mike V. Florida
Supply and demand sets the price.
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Mike, that's only in high school text books buddy. Today, real world, it's speculation that sets prices. From inflated housing to inflated farm land to the inflated stock market. The trouble ramping up in the Middle East is bound to influence oil prices once again. Has little to do with S&D. Example: the U.S. is poised to be the world's biggest oil exporter soon. There is a tremendous amount of oil in the South China Sea yet to be developed, (The Golden Dragon) and they say even Russia hasn't figured out yet just how much oil they have.
Now, if they would turn Model A Fords into a speculative venture----- Naw, won't happen!