The Way I See It!
I am an Ultra-Conservative, Alpha-Male, True Authentic Leader, Type "C" Personality, who is very active in my community; whether it is donating time, clothes or money for Project Concern or going to Common Council meetings and voicing my opinions. As a blogger, I intend to provide a different viewpoint "The way I see it!" on various world, national and local issues with a few helpful tips & tidbits sprinkled in.
2009 Report Suggests Jump n Oil Prices not Linked to Supply and Demand
A report just released by Masters Capital Management has concluded that the huge jump in oil prices beginning in January of 2009 was caused by speculation by investors and not by supply and demand.
Investors dumped 60 billion dollars into oil future markets during the first few calendar months as prices climbed from $95 a barrel in January to $145 a barrel in July. They have since withdrawn over half of their investments as the prices fell.
Senator Maria Cantwell, D-Wash who is sponsoring a bill to end speculation in oil futures, says that the report challenges the idea by the Commodities Futures Trading Commission that high oil prices were based on supply and demand.
Source: news.yahoo.com
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