Price Drops - So What?

Is anyone out there really buying into the Supply-and-Demand, China and India bullshit about oil prices? Have any of you noticed that these prices for a barrel of oil have had nothing to do with OPEC?

According to an AP article, "Traders sold off crude futures for a third straight day after government data on Wednesday showed a rebound in gasoline supplies ahead of the summer driving season. A barrel of light crude lost $2.34 to settle at $69.94 on the New York Mercantile Exchange, where gasoline sank 9.1 cents to $1.995 a gallon."

Pay attention, there'll be a quiz. This is the futures market - speculators buying and selling futures on June, July - even September oil. They are the ones who have manipulated the price. Now, these same people might have connections to the oil industry - they might not. Just please stop insulting our intelligence over what's driving the prices.

Yes, the oil companies have to make something like 44 different blends of gasoline to meet the greenies demands of the states and that has had an impact every summer. But if supply and demand were the culprit OPEC would be the ones setting the prices, not the futures exchange.

And while I'm at it - I figure just about everyone who comes here regularly doesn't need this notice, but for the first time I'm recommending a boycott. I don't care if you run out of gas and have to push your car two miles uphill, do not buy at CITGO. Besides being the Boston Red Sox mascot, every dollar you spend at CITGO goes straight into Hugo Chavez's pocket.