Posted by NEIADan on June 10, 2008 at 18:50:38 from (70.41.111.89):
In Reply to: You are now in charge posted by john in la on June 10, 2008 at 06:40:04:
Most all of us are in charge. This oil market is investor driven. The actual cost today ranges fromn 4$ to 50$ a barrel. Yet our futures markets are running in the 130$ range. Why? It is your dollar and mine that has been re invested from our 401K"s, life insurance and annuity accounts that have been placed in the hands of brokers following the trends and investing into a market that has a lot of attention. Do you believe that if we are told that oil is going to $150/barrel that it is based on demand or speculators? Remember all those adds to invest in gold a few years ago. How about those 12$ beans 30 years ago? What happened to the tech stocks or even todays housing bust. To many speculators will spoil the pot. So what would i do if I was in charge. Decide which is more impotant my retirement profile or annuity investments or my daily cost of energy.
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