Tuesday, March 10, 2009

Oil rises to near $48 as OPEC signals supply cuts

When oil is back up over $100 we will be hearing the usual reason: "supply and demand." However, few will mention the OPEC cartel and its ability to set prices at the margin.

1 comment:

googleheim said...

As artificial as Sudan Red colouring ...

Is the so-called inflationary whiplash spike that is follow stimulus spending more a function of these types of commodity mafias demanding again what they were charging two years ago after the deflation lull in prices, or is it true supply / demand ?

It's all relative to their overpricing and fictitious speculation that has evaporated and never existed.

This oil cartelling is a form of taxation to the US Tax payer more than deposits into / on institutions could ever