Formerly About Advanced Micro Devices Message Board

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Politics : Formerly About Advanced Micro Devices

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To: American Spirit who wrote (289988)	6/9/2006 1:22:59 AM
From: tejek	Read Replies (1) of 1571090

Enron and Exxon gouge(d) in different ways. One with hacking and jacking the electricity market. The other with all the rest of the big oil interests, juicing the price to maximum highs and spending tens of millions telling us what an acute shortage we have, then paying off rightwing politicians to lobby for them. Guess what? The shortage is not real. At all. There is not a shortage per se but rather supply and demand are in equilibrium. Because they are in equilibrium, refiners have to buy oil and inventory it to insure they will meet their committments to their clients. The cost of storing and insuring the stored oil creates what's called a contango effect where prices for futures exceed spot prices. The higher cost of oil translates into a higher price for gas. This guy explains it much better than I do: thestreet.com

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