Posted by JML755 on November 19, 2008 at 13:38:55 from (66.184.63.110):
In Reply to: Mr. now and Mr.Later posted by Jim H SW-PA on November 19, 2008 at 13:21:53:
Jim H SW-PA,
I wouldn't lay too much credit OR blame on the doorstep of either Mr. now or Mr. later. (chuckle, I do like that description). But yeah, I do think government policies have a lot to do with the price of energy, oil in particular, on average. But those huge spikes we saw were speculator driven. And the drop now is due to the loss of those speculators in the market PLUS we're consuming less so I believe it's supply and demand as well. I've no intention of changing my new-found gas conservation ways even if gas drops to $1.
Notice that the pirate capture of that Saudi tanker didn't do anything to the market. If that happened 4 months ago the price would have jumped skyhigh. Back then, speculators were looking for any excuse to drive the price up.
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