So, all those meetings OPEC have where they discuss production volumes and
pricing don't actually have any impact at all on how much a gallon of gas
costs at the pump... if they manipulate production they also manipulate
pricing, regardless of what the speculators and others may do. Outside
factors do have an impact, but at the end of the day supply is the deciding
factor, given that the world economy runs on this particular product.
"Ron Schofield" <email@example.com> wrote in message
> Chris Kloss wrote:
>> IMHO, if the price of oil had remained low, the financial crisis would
>> have been of short duration.
>> Oil price affects just about everything in our economy, not just gasoline
>> for cars. A rapid increase in the price of oil requires a reallocation
>> of the money people and businesses spend.
>> Businesses must raise prices and, one result of this might be a lower
>> demand. Businesses need more money to replace inventory. Persons and
>> businesses on the edge cannot meet their financial obligations. etc....
>> you get the idea.
>> Arabs raise the price of oil and our economy lags. Lower the price and
>> our economy rebounds. They control our lives.
> Actually it's supply and demand that has more to do with oil prices than