Closure on Oil Prices

[Al]

http://www.cbsnews.com/video/watch/?id=4713382n

The historic swings in oil prices last year were the result of financial speculation from Wall Street and not supply and demand. Steve Kroft investigates.

[Stangman98]

http://www.cbsnews.com/video/watch/?id=4713382n

The historic swings in oil prices last year were the result of financial speculation from Wall Street and not supply and demand. Steve Kroft investigates.

It took them that long to ******* realize that? :goof

[Adam Brooks]

lol, i think i posted some charts on this a while back.
http://brewcitymuscle.com/forum/showthread.php?t=31442
holly crap it was 4 months ago ha

that vid got everything correct except for the reason why everything fell apart at the end. it wasnt because of AIG and LEH collapsing, it was because you now have to disclose if you are a legitimate trader or a speculator in /QM. At that point was when we began to see a rapid decline in oil prices

crude 37.525 currently woot!

[Windsors 03 Cobra]

crude 37.525 currently woot!

I'm looking forward to that 1.50/gal gas. :thumbsup

[Adam Brooks]

I'm looking forward to that 1.50/gal gas. :thumbsup

you jixed it, 37.60 in afterhours trading

[Karps TA]

Hmmm seems like I was saying that quite a bit as well. But I was told constantly that I'm too dumb to understand simple supply and demand economics.....

This planet ain't running out of oil anytime soon.

[1320PNY]

It's all about profitability. If we keep using less, then they will raise the price per gallon anyway. You think some hotshot CEO is going to take a pay cut?

[Holeshot]

Oil futures is nothing but large profits. So the more invested the more it spikes. Im glad the market sank. Fook the big wigs

[Rocket Power]

I'm looking forward to that 1.50/gal gas. :thumbsup

Why the F*** is it still 1.89?

[lordairgtar]

It's $1.99 here in Muskego.

[lilws6]

I was just watching on history channel today aboiut how they get even more oil out of the ground. since oil stick inside rocks they flush the ground with 3000 PSI or Co2 and water and it gets all the oil out of the rocks that they can't get with the wells and there hoping that the rock will contain the Carbon emmissions and store them under ground to help prevent more green house gases. they said somethign about the field lasting at least anouther 40 years or so were good on oil just bring back the $.25 gas please lol for the good ole days

[Nick]

I'm astounded that there are people out there who believe supply and demand caused what we saw this past year.

[MurphysLaw88GT]

I'm astounded that there are people out there who believe supply and demand caused what we saw this past year.

I am not. I would not doubt if most still believe in Santa Claus

[LIZMO]

santa clause isn't real? :(