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Politics : GOPwinger Lies/Distortions/Omissions/Perversions of Truth -- Ignore unavailable to you. Want to Upgrade?

To: steve harris who wrote (121568)	4/26/2008 4:05:49 PM
From: TideGlider	Read Replies (1) \| Respond to of 173976

The Oil companies have nothing to do with the price of oil. The commodities market does. The oil futures are bought as high as they like by trillions of dollars of hedge fund money. They are simply raping the world. When stocks crumble they buy them at the bottom and sell off the commodities causing the stocks to rise. Occasionally the fat assed elephant funds can't get out of their positions due to lack of liquidity. The world will suffer enough until the corrupt marketing of essentials is outlawed. What happens now to the farmers who planted all the rice and corn if the prices plummet? The world are far less regulated than are casinos. In fact if the casinos attempted to operate like the markets , they would all go to jail.

To: steve harris who wrote (121568)	4/26/2008 4:36:00 PM
From: Kevin Rose	Read Replies (1) \| Respond to of 173976

Yes. The evidence is in the asymmetric relationship between gas prices and oil. When oil rises, gas prices immediately keep pace. But, when oil falls, gas prices do not immediately fall. There are no market conditions that can be used to model this behavior outside of collusion. Big oil companies operate under an unspoken agreement to not cut their margins too quickly - that is the only reasonable explanation for this asymmetric price relationship. This collusion - in combination with their manipulation of supply through refinery capacity - are a direct result of corporations acting in their own self interest. Until that self interest includes survival - antitrust laws with teeth - they will continue to screw over anyone in the name of profits.