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Rick Santorum? Really?
Topic Started: Feb 8 2012, 08:54 AM (541 Views)
dumblonde
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here's an interesting article about the effect of speculators. I believe that if they thought Obama was willing to release oil from the reserves the speculators would be much more cautious. Now of the oil companies themselves took refineries offline to jack up the prices I don't think this strategy would work as well.
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So, if a barrel of crude oil is $23.39 higher because of speculative action in the commodity markets– this translates out into a premium for gasoline at the pump of $.56 a gallon. Since gasoline in the northeast is about $3.68 a gallon, this suggests that without any speculation, the cost of a gallon would be  only $3.12, a lot more favorable outcome.

http://www.forbes.com/sites/robertlenzner/2012/02/27/speculation-in-crude-oil-adds-23-39-to-the-price-per-barrel/
Edited by dumblonde, Mar 2 2012, 05:42 PM.
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