A budgie farts in Boston and the price of oil rises, or so it seems lately. How does the loss of half a million barrels of oil for a few days impact
the price of oil? When countries like Saudi Arabia are exporting 7 or 8 million barrels a day you'd think it wouldnt impact that much.
I feel there is a concerted profiteering campaign being waged here by the oil companies. They could absorb these minor fluctuations like they have
done for decades but lately they are cashing in big time.
Just looked up the figures. The World's production of oil is 76 million barrels of oil per day. So this hurricane has temporarily removed roughly
1/152th (or 0.65%) of total oil production. Why the price rise again?
[edit on 28/8/05 by subz]


