Oil... Oil... Oil

@iriscot (1289)
United States
May 5, 2010 8:02am CST
We know that thousands of gallons of oil is spewing out in the Gulf from a BP well, but we didn't know how much oil is being stored, in the States and around the world.... According to the May 9, 2010 issue of Bloomberg Business Week oil is being stored around the world with big oil people trying to keep the price up to $80 to $100 a barrel. Here are some facts: In Cushing Oklahoma oil inventories have increased for the last two months where Nymex has its delivery hub... Nine tankers are providing storage in the Gulf of Mexico... Fourteen tankers are being used for storage in the Persian Gulf... North Sea companies are storing oil in tankers near the British shore... The world has a glut of oil in storage and yet the price of gasoline hangs around the $3 mark per gallon... Something is wrong here, when an oil well breaks down the price of gas shoots up, but we don't see the price dropping when there is such a glut in storage... Instead of oil being $80 a barrel it should probably be around $50 or $60... Big business wins again by controlling the flow of oil and screwing the public... What do you think?
1 person likes this
3 responses
Destiny007
@Destiny007 (5805)
• United States
5 May 10
I think that you need to educate yourself on the issues. The price of oil is kpt high by the government, not the oil companies. The market cannot work with the government constantly interfering. The want the price of oil to go so high that people will stop using it... just as the want energy prices to go so high as to make people use less. This is you much loved big government at work. I would suggest you be quiet and do what big government tells you do do like a good little drone.
Thoroughrob
@Thoroughrob (11742)
• United States
5 May 10
I do think that it has nothing to do with oil prices. It is controlled by higher up people. It does not matter what the price of oil is, it is controlled.
laglen
@laglen (19759)
• United States
5 May 10
Big oil is big business, would you rather father government controlling every thing? I know in theory, government should equate to "the people" but I know your not that delusional.