A Panic Driven Mentality
With oil trading at near record highs and no hurricane in sight, there can be little doubt a panic mentality is taking hold of the oil commodity markets. People should realize there is no shortage of oil anywhere in the world.
In the USA stocks of oil are plentiful, near their highest level. Neither China nor India are using enough oil to cause a shortage. World demand for oil is not driving up the price, so what is.
Iran is the main reason the oil price is trading high. However, it seems it is the intent of the Iranian leader to drive the price of oil to $100 a barrel. What better way than telling the world they are going to build nuclear power plants. Israel has declared they will not allow that to happen, so there is no risk of an Iranian nuclear weapon.
Israel will bomb Iranian nuclear power plants if they continue their inept rhetoric. Since the leaders of Iran know that, it appears they are playing a bluffing game, as did Saddam Hussein, with his so-called weapons of mass destruction, which he never really had. He skillfully implied information into the system that was not true, but that backed-fired on him because Mr. Bush called his bluff.
An important point to note is Iran needs the revenue from oil to finance their counties requirement, so there is little chance of them cutting supplies for any extended period of time.
If the western world chooses to help the leader of Iran gets his wish with $100 a barrel oil then they will keep allowing the speculators to dictate the price that is traded on the oil exchanges. The more the media oil "experts" focus on $100 mark, the closer it get to becoming a reality.
A sky-high price when supply is plentiful goes against every economic law of supply and demand. It seems a plan of diabolical cleverness, from of a few powerful, scheming people, are using peoples speculative greed and fear psyche, as a weapon against America, in the same way they used USA aircraft to blow up the Trade center on 9/11...It seems to be working.
A panic driven mentality will hold the world at ransom with high oil prices until common sense returns to the mercantile futures exchange. A few greedy speculators will profit from everyone else's distress and the Iranian leaders will be laughing all the way their oil platforms.
They say you can fool all the people some of the time and some of the people all the time....I guess its time to stop fooling around and wise up to the fiendish plot of leaders who want to harm the Western economies.
The best way to defeat this enemy is to get the price of oil back to fair value of $35.00 a barrel. Market forces will return one day when people wake up to real supply and demand economics ... Until then, the enemy at this poker table has the upper hand.
posted by Mike Levy @ 6:43 PM
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