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Politics : President Barack Obama -- Ignore unavailable to you. Want to Upgrade?

To: Wharf Rat who wrote (100010)	8/22/2011 10:24:13 AM
From: ChinuSFO	Read Replies (2) \| Respond to of 149317

And the circus goes on in the party that you echo: anti-Obama rheypric. Seems like they acknowledge that they do not know what they are saying or doing. =============================== Republicans Still Haven’t Found What They’re Looking For August 22, 2011 8:55 AM blogs.abcnews.com

To: Wharf Rat who wrote (100010)	8/22/2011 10:47:14 AM
From: tejek	Read Replies (1) \| Respond to of 149317

these indices suggest that prices are dictated by supply and demand" I've been telling you that for 6 months. No you have been saying we are at peak oil. If we were at peak oil, we would not be seeing the huge fluctuations in pricing. The factor you refuse to look at is the manipulation of oil prices by oil traders. That more than anything else explains why prices jump up and down so significantly. There is no more oil today than there was on Friday. However, Brent is down by $2 just because the rebels have taken Tripoli. That smacks more of manipulation than the reality of supply/demand. But an even more telling example is what happened in 2008. NYMEX prices got up as high as $150 per barrel. A year later they were in the $30s........roughly a 75% drop. So then, global demand must have dropped off a cliff. Nope. Global demand was down by only 2%. So why the huge drop in oil prices? A faux bubble bursting? Bottomline: There seems to be only a mild correlation between crude prices and demand. However, there seems to a far greater correlation between market manipulation and oil prices. Its not a definitive conclusion because there are a number of variables in this problem but it does appear to be a far better one than hanging it all on peak oil.