Gas Price Gouging Revisted

[SilverEagle]

Ed Wallace has some info for you.

http://www.star-telegram.com/ed_wallace/story/1112954.html

One of my favorite parts.....

the Organization for Economic Co-operation and Development recently released its long-term charts on oil consumption demand by the 20 industrialized nations; and guess what? Their data shows that oil demand destruction and a subsequent decline in the use of oil by the 20 major world players started in the first quarter of 2006. That’s right, oil demand for the 20 largest users of crude started declining not in the summer of 2008, but fully 2½ years earlier. That same chart also shows that oil demand literally fell off a cliff at the beginning of this year.

In a nutshell, oil supply and demand haven’t been a problem since 2005. Yet, all the time prices were heading toward $147 a barrel, experts continued to fill the media’s columns and screens with story after story explaining that oil demand was skyrocketing and supply was short — the day of cheap oil had come and gone.

[adman]

Ed Wallace has some info for you.

http://www.star-telegram.com/ed_wallace/story/1112954.html

One of my favorite parts.....

the Organization for Economic Co-operation and Development recently released its long-term charts on oil consumption demand by the 20 industrialized nations; and guess what? Their data shows that oil demand destruction and a subsequent decline in the use of oil by the 20 major world players started in the first quarter of 2006. That’s right, oil demand for the 20 largest users of crude started declining not in the summer of 2008, but fully 2½ years earlier. That same chart also shows that oil demand literally fell off a cliff at the beginning of this year.

In a nutshell, oil supply and demand haven’t been a problem since 2005. Yet, all the time prices were heading toward $147 a barrel, experts continued to fill the media’s columns and screens with story after story explaining that oil demand was skyrocketing and supply was short — the day of cheap oil had come and gone.

Pigs get fat. Hogs get slaughtered.

[KingDL1]

Pigs get fat. Hogs get slaughtered.

Kind of a retarded article it was pretty common knowledge last year and the beginning of this year that Speculators on oil futures were driving the prices up, using the increased use in China as the fuel. There were plenty of articles that predicted a huge crash in the price of oil by the end of this year. I think he got his Bush quote wrong, in his use, gas was a supply problem here with a shortage of refineries for various reasons, from damage from mother nature, retooling, or just lack of new refineries. But the US gas use was still going up until this last spring.

Though I think he is right about lobbyists, and he discusses media, but the media is more to blame in this, the news networks feed on negativity and love to sensationalize anything 24 hours a day.

[UNTflyer]

Just remember, 90% of all economic activity is half mental.