There is no conspiracy. Doesn't a conspiracy require some secrecy? OPEC doesn't mind telling you they have cut production in order to raise prices. Raw crude prices have been lower than production costs in a lot of oil producing areas. I live with wells on my property. There are thousands in my county. Over the last several years, well have been shut in, because it cost more to produce the wells than the crude was worth. Does anyone really truly believe that the wicked ol oil companies would put up with three or four years of below cost oil? If they had real power, oil would have never dropped out of the $30/barrel range.(posted 9649 days ago)Also, how many folks (besides farmers) work or produce a product at a loss and remain in business. If you want to see who controls the price of oil, look in your local paper and check out the Chicago Board of Trade. Supply and Demand. Futures trading. Less production, futures rise, and prices at the pump follow. How many people have mutual funds or other securites that have oil stocks included. Are those people complaining about their stocks soaring?
I live off the grid, but I still drive a truck. My baby truck gets the same mileage as my 1 ton diesel. My vw rabbit got the same mpg as my mothers monster Ford LTD did.
I heard on the radio today that the price of fuel has no bearing in 'todays economy'. I wonder how all those internet tycoons and their employees get to work? It doesn't matter how high fuel prices go, people will still buy it. What are we going to do? Everyone move into one small corner of the country, so we can all walk to work. Great, that'll leave more empty space for us ruralites!