The Secret Group Setting the Price of Oil

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The Secret Group Setting the Price of Oil - 3/9/2011 10:23:03 AM

OrionTheWolf

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" Contrary to popular opinion, oil prices were not being controlled by Arabs or leftist dictators. They were being controlled by the same bootstrapping traders who had embarked on an extraordinary experiment from the depths of a redbrick mansion in downtown Manhattan exactly thirty years earlier. "

http://features.blogs.fortune.cnn.com/2011/03/09/excerpt-from-the-asylum-the-renegades-who-hijacked-the-worlds-oil-market/

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RE: The Secret Group Setting the Price of Oil - 3/9/2011 12:05:27 PM

willbeurdaddy

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cue Twilight Zone theme.

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RE: The Secret Group Setting the Price of Oil - 3/9/2011 1:14:01 PM

ashjor911

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FR
I do think the price of oil is due to the setuation in Eygpt & the oilships not going throu Suez Canal
they have to go all the way around africa & then to eroupe & the US
the jeruney itself will but another 800.000 $ add to the cost = 1 cent for each Barrels of oil.
I have watch this on some TV channel not my words

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RE: The Secret Group Setting the Price of Oil - 3/9/2011 1:24:24 PM

willbeurdaddy

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quote:

ORIGINAL: ashjor911

FR
I do think the price of oil is due to the setuation in Eygpt & the oilships not going throu Suez Canal
they have to go all the way around africa & then to eroupe & the US
the jeruney itself will but another 800.000 $ add to the cost = 1 cent for each Barrels of oil.
I have watch this on some TV channel not my words

Its due to many things, but speculators and meetings of a clandestine group 30 years ago are not among them.

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RE: The Secret Group Setting the Price of Oil - 3/9/2011 7:15:41 PM

Termyn8or

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There were never any meetings. There was never a plan. All this shit just happened and God just rained the money down on the worthy. Either that or they are so gaddamn good they deserve $52,673* a minute to "work" on the golf course or yacht. That should be my next job. I'll look into it.

*That number came from the Twilight Zone. Hey, I didn't start the music.

T^T

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RE: The Secret Group Setting the Price of Oil - 3/9/2011 8:53:26 PM

Real0ne

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the people that scream conspiracy theory are always the least or last informed.

hell there used to be several clips of oil price fixing at the markets all over the net. Not sure they are still out there but they used to be....

forget twilight pass go and directly to jail!

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RE: The Secret Group Setting the Price of Oil - 3/9/2011 10:44:06 PM

Fellow

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I like the line from the article:
"....market speculators, mostly men in their thirties and forties, gathered every day to beat and berate one another in a money game so absurd that even they could scarcely believe they were being allowed to play it...."

Perhaps there is truth in it that supply side (OPEC) control on oil prices has been reduced due to futures trading activities esp. during recession. Currently, there is plenty of supply but the price keeps going up. The problem needs to be addressed on government regulation level (it is unlikely though as the US government is in zombie state of existance).

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