Supplies have never been greater.
Rather than 60 dollar oil, it traded up 2 bucks today to 107. How about we call this what is is. Price fixing. The culprits? Bankers. Same as it always was. http://www.zerohedge.com/contributed/2013-07-18/gasoline-supplies-highest-july-period-1992
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Lets get our heads together and invent an alternative cheap fuel and then give "big oil" the finger right along with the crooked bankers.
Yes the banks are a problem. The hedge funds are a problem. The big problem is the Federal Reserve. The money that is being pumped into the system needs to find a home. The bankers have wealth management accounts(big depositors) who expect 4,5,6% return on capital. The term used in the "industry" is "hot money". The oil market just happens to be the target now. The next target could be wheat,Corn or soybeans. It really does not matter to "hot money". It does matter to the guy on the street,in Egypt the issue is not democracy, it's food. The U.S. "hot money" causes inflation. We(the U.S.) are just beginning to feel inflation. Maybe when it's our stomachs that are running on empty instead of our gas tanks we all will revolt.
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