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Re: o/t here we go again
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Posted by BobMo on September 06, 2006 at 05:36:28 from (64.91.46.110):
In Reply to: Re: o/t here we go again posted by Doug in IL. on September 06, 2006 at 04:37:12:
The oil companies neither big nor small set the price of crude. It is put up for sale and they take whatever they can get. If the price stays up they charge their refineries what its selling for on the world market. Consequently they make a lot of money because of speculators which buy & sell crude.
Its the same as if you put a tractor in your yard and decided you needed 1000 dollars for it to come out on it. The 1st guy stops by and tells you he'll give you 2000 for it. Will you say "No I only want a 1000" but while he's there another guy stops and says he'll give you 2500 because he heard all those tractors were being sent to China and there is going to to be a shortage. And so goes crude oil...
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