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December 12, 2007


Robert McLeod

EIA is talking about the actual prices for crude, which tend to be lower than WTI Texas futures, simply because they're heavier and have a higher sulfur content. The US average right this minute is $82/bbl according to them.


Do these people actually understand how futures work? If futures traders are speculating the market so high, then producers who have not sold their oil as futures should be able to easily undercut prices and drive out other business. It's the fact that all the production is being used that allows speculators to increase prices. Supply is less than demand, and we all know from econ 101, when supply is less than demand, prices surge.

I don't see why more aren't welcoming these prices. It will only get us off oil sooner.







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Interesting article, I have a car but luckily I walk to work!

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Wow, what are we at now per barrel?

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It's frustrating that gas prices have risen so much, why did we not counteract this sooner?

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I hope the prices go back down...we need more alternative forms of energy ASAP!

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