Oil Scam That Has The Poor Over A Barrel (from The Herald ): "What do we know about fuel prices? We know that oil companies have managed to avoid going bust. In fact, they may be doing quite nicely. We know also that the Opec ring has protected itself, and then some, against a weak dollar. We know further that hedge funds have piled into the energy futures markets to the tune of $260bn, and enjoyed some handy rewards.
Then we know that governments, especially those with a bit of off-shore oil, can reap certain benefits from consumer and producer alike when the spot price for a barrel tops $135. Enterprises, their investors, sovereign funds, speculators and governments are surviving without pain. So why all the fuss? Who is hurting?
That would be you."
Sunday, 1 June 2008
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