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Gold/Mining/Energy : Big Dog's Boom Boom Room
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To: c.hinton who wrote (41355)4/4/2005 2:24:23 PM
From: Tommaso  Read Replies (2) of 206115
 
What I was commenting on was that Slider said very plainly that he thought that the price of oil was manipulated.

I do not see how that can be true, because there are so many different sources and so many different markets where oil is sold.

In the past, the price of oil certainly has been manipulated. Until the 1960s it was the Texas Railroad Commission. In the period 1970-1995 or so it was OPEC. I don't think there is any government, industrial combination, or cartel right now that can manipulate the price of oil so that it goes down. OPEC certainly could push the price up much higher if they chose to, but the best one can tell, they have very little room left to increase production.

I guess I would admit that Slider could be right if it eventually comes out that there have been quiet agreements between oil producers to hold back production.
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