Oil jumps above $100 a barrel again...read between the lines

[w8liftinglady]

http://biz.yahoo.com/ap/080219/oil_prices.html
Oil futures shot to a new record above $100 Tuesday for the first time since Jan. 3 as investors bet that crude prices will keep climbing despite evidence of plentiful supplies and falling demand. At the pump, gas prices rose further above $3 a gallon.

SNIP

None of the news is enough to justify a nearly $3 a barrel jump in the price of crude, said James Cordier, founder of OptionSellers.com, a Tampa, Fla., trading firm. Echoing other analysts, Cordier argued that the oil market is in the process of "decoupling" from oil's supply and demand fundamentals. He said investors drawn by the falling dollar and momentum are pushing oil prices sharply higher despite reports last week from the Energy Department, OPEC and the International Energy Agency which all cut oil demand growth predictions for this year.

so...what is going on,exactly?

[ayeshahaqqiqa]

1. I think it has to do with switching from dollars to euros

or maybe simply saying that, since oil is finite, the folks with it are planning to squeeze every last penny they can out of us right now, before alternatives are up and running.

[DJ13]

2. "so...what is going on,exactly?"

The US government needs to take a hard look at the commodities market where oil futures trade to ensure theres no fraudulent activity driving up the price of oil.

Wont happen with Bush in charge, as theres speculation that the Saudis and other large oil exporting countries are rolling their windfalls back into the commidities markets to keep oil prices high.

[Javaman]

Well, when the oil transfer points in Iraq don't have working meters...

what do you expect?

It's rumored that between 2-3 hundred thousand barrels a day are being stolen.

Someone is funding something.

[earth mom]

11. Funding what? Like a new Kingdom & military in Paraguay?

I'd like to hear more about your theory. I've got my hat on! :tinfoilhat:

Just when I thought the globalists couldn't shock me anymore too!

[Javaman]

12. It was reported last year, that the meters have been broken

since the invasion. And no one has bothered to fix them.

http://www.alternet.org/waroniraq/51218/

This link is a good one...

http://www.diatribune.com/halliburton-suspected-aiding-oil-smugglers-iraq

That's a lot of oil money flooding into the black market.

What is the best way to cover your tracks if you wanted to fund something? Don't ever fix the meters.

This dove tails into pallets of untraceable bills vanishing in Iraq with absolutely no accounting.

There are so many black ops going on in Iraq it's scary. It's easier to fund these "missions" via these routes then to have a paper trail.

I also wouldn't doubt that someone is also double dipping with this "free" oil.

[earth mom]

16. This is scary. What are they doing with all that oil?!!!

:yoiks:

[Javaman]

17. Making money and buying arms most likely.

But to what end? :shrug: Your guess is as good as mine.

Perhaps to keep the pot all stirred up. War these days is very profitable.

If H or O gets in, I expect a giant sucking sound as all the "private" funds dry up and as a result the shit will really hit the fan over there as the "friendly" Iraqi militia are suddenly de-funded.

The big set up for things to fall as soon as a Dem takes over.

[Javaman]

9. dupe. nt

[NightWatcher]

3. what is 'between the lines'? all I see is more corporate greed

[spanone]

4. a barrel is up over four dollars today WTF?

[TreasonousBastard]

5. Oil is becoming a tradedf commodity like gold, silver,...

and pork bellies. Speculatin has always had some place in oil prices, but it's worse now.

Like the article says, the price is no longer strictly a matter of supply and demand, but of speculation since there are fewer safe places to park a falling dollar.

[tblue]

6. Well, Big Oil has only 11 months until their lease in the White House is up

[Supersedeas]

7. don't expect the smiling powdered faces on the 'Business' shows to mention that one

[tridim]

15. Yep, they're just having one last profit party before the adults return to the WH. nt

[Javaman]

8. Dollars to Euros, plus what we don't buy, China and India do. nt

[DCKit]

10. They can't afford to sustain these prices either.

Every economy is based and dependent upon energy and raw materials. Oil fit the bill on both counts until Dumbya decided to take over the ME.

Only those (very) few countries who were never dependent on oil or imports will be less affected.

[Javaman]

13. Good point. nt

[ladjf]

14. It is imperative that the human race change over the renewable

energy sources as soon as possible. This won't be easy but is most definitely doable.