Isn't this a much bigger source of the oil price problem than anyone gives it credit to be?

We all want to blame the oil companies trying to make a buck, some want to blame the Arabs, some know that the demand in oil consumption of countries like China and India is increasing the price and that supply is off because of instability in Nigeria and the lunatic in Venezuela. But very few are taking into account the commodities speculators on Wall Street who are making money hand over fist betting on the flow of oil. Is there a way that we could take them out of the equation and bring the price down to a sensible level?Isn't this a much bigger source of the oil price problem than anyone gives it credit to be?
Speculators will always be in the mix.And when you have all forms of the media expounding on the shortages and the rising cost, aren't they playing right into the hands of the speculators? Get the media to shut up, have a little less brainwashing of the public and good things may happen. Also do your part. Travel only when necessary. Consume less fuel.Isn't this a much bigger source of the oil price problem than anyone gives it credit to be?
Quite frankly, most people are astonished that Americans pay HALF the price for gas as we do in Britain, and still whine about their lot in life.





IMO, you need not have gone any further than the oil companies and OPEC countries (Of which the USA is one) to place the blame for rising prices. We are going to be seeing record profits by the refineries this year. As well as increased demand from China, India (Hell, why not add 120 more countries to that list - INCLUDING YOURS?), we have instability in the middle east and that lunatic in the white house.





If wall street speculations on oil get your goat, spare a moment for the hundreds of millions who will go hungry this year because the same speculators have pushed up the price of basic staple foods like wheat, corn and rice. There's very little more immoral than the rich profiting off the poor. Don't worry though - Mr.Bush and his oil buddies will be laughing all the way to the bank, and your hedge fund managers can declare themselves another profitable year on rice futures.