3 Years of Oil Speculation and nothing has changed. How the super rich stay ahead.

When I did a searchn on this topic I found that the last thread on it was dated November 2009. When I clicked on the link 2009 Thread I found an article which says almost the same as an article written this week on Al Jazeera. Al Jazeera story

That means that in those 3 years despite Governments knowing about this they have failed to address the problem. Now the pressure on prices is fuelling revolt and rebellion as the world's poorest are literally starving to make the super rich even more money.

The next time you drive to the gas station, only to find prices are still sky high compared to just a few years ago, take notice of the rows of foreclosed houses you'll pass along the way. They may seem like two parts of a spell of economic bad luck, but high gas prices and home foreclosures are actually very much inter-related. Before most people were even aware there was an economic crisis, investment managers abandoned failing mortgage-backed securities and looked for other lucrative investments. What they settled on was oil futures.

It's a scam folks, it's nothing but a huge scam and it's destroying the US economy as well as the entire global economy but no one complains because they are 'only' stealing about $1.50 per gallon from each individual person in the industrialised world. It's the top 0.01 per cent robbing the next 39.99 per cent – the bottom 60 per cent can't afford cars anyway (they just starve quietly to death, as food prices climb on fuel costs). If someone breaks into your car and steals a $500 stereo, you go to the police, but if someone charges you an extra $30 every time you fill up your tank 50 times a year ($1,500) you shut up and pay your bill. Great system, right?

There is nothing that the conga-line of tankers between here and OPEC would like to do more than unload an extra 277 million barrels of crude at $112.79 per barrel (Friday's close on open contracts and price) but, unfortunately, as I mentioned last week, Cushing, Oklahoma (Where oil is stored) is already packed to the gills with oil and can only handle 45M barrels if it started out empty so it is, very simply, physically impossible for those barrels to be delivered. This did not, however, stop 287M barrels worth of May contracts from trading on Friday and GAINING $2.49 on the day.

So here we are 3 years later and still we have to put up with this bull#. I'm starting to get really angry at the way the game is rigged in their favour. At least when you walk in a casino you know the odds are against you, you surely have a right to expect that in the real world someone is looking out for you. Oh wait ! That would be our elected officials. Gee I wonder why they haven't done something?

They make money from it. They gain power from it. Why would they do anything about it?

Then perhaps it's time they were made to do something about it?

You have addressed several good points in your post,(s/f). The reality is that the level of "technology" available to the masses is a complete, sad joke. Look at the internal combustion engine as perfect example of SLOWLY bleeding technology forward to the average consumer. Small incremental upgrades to keep the system alive, not to advance the population as a whole.