Subject: price of oil: bullshit
I don’t know if you’re interested or follow this issue, but it was about time for a political rant out of me. So, I have a big problem with how our economy is evaluated and how the values of commodities are determined. For instance, we are supposed to believe that oil is still the most economically feasible form of energy. This, I have maintained, is complete bullshit. Our gov’t. subsidizes the oil industry as well as other traditional american industries such as cotton and steel. This makes it appear to be economically feasible. This is illegal as far as the World Bank is concerned and other countries have tried to sue the US because of it. My point is that the actual value of these things is not determined by supply and demand or actual market value in terms of consumers. It is determined by the gov’t subsidies and by speculative investors. The fact is that oil supplies have not diminished and may have increased in recent years and that demand has not increased flies in the face of increasing oil prices that are nearing $100/barrel. This is messed up, and won’t last. What happens when investors get all excited about something and buy it? The value of what they’re buying increases. They are driving the price up, not anyone buying gasoline or other petrol products. End of rant. gotta go.