Start the conversation
Comment on This Story
Or to contact Money Morning Customer Service, click here.
About the Author
Keith is a seasoned market analyst and professional trader with more than 37 years of global experience. He is one of very few experts to correctly see both the dot.bomb crisis and the ongoing financial crisis coming ahead of time - and one of even fewer to help millions of investors around the world successfully navigate them both. Forbes hailed him as a "Market Visionary." He is a regular on FOX Business News and Yahoo! Finance, and his observations have been featured in Bloomberg, The Wall Street Journal, WIRED, and MarketWatch. Keith previously led The Money Map Report, Money Map's flagship newsletter, as Chief Investment Strategist, from 20007 to 2020. Keith holds a BS in management and finance from Skidmore College and an MS in international finance (with a focus on Japanese business science) from Chaminade University. He regularly travels the world in search of investment opportunities others don't yet see or understand.
If the reason "hedgers" are raising the price, why has the ratio of hedgers to "speculators changed from 75% hedgers/25% speculators to the reverse??? The speculators ARE the cause, but fear not…the President has had his photo-op, exactly like LAST years, with the spectre of Eric "I have guns toi Sell" Holder being as ineffectual as the previous "attempt" to find what fuels high oil prices.
Google the "Global Oil Scam." Purchase electric cars and solar panels. The price of oil and gasoline is determined by those who manipulate and control the crude oil futures markets, namely, the IntercontinentalExchange(ICE), ICE Futures Europe and the NYMEX and the price of oil is not decided by Obama, OPEC, Iran, Saudi Aramco,Inc., Libya and the laws of supply and demand.
PRIUS DRIVERS
Remember the 1970's movie "Deliverence" and those inbred, but somewhat talented "Banjo Players" (as in the song "dueling banjos")? Well, the same thing goes with many otherwise talented Americans and their duly elected representatives (politicans). The conservation measures of Congress, the President, and the individual consumer won't change Keith's trend of limited oil and unlimited global growth in demand and therefore, prices.
So, whether you can drive a Hummer or a Prius makes little difference to the price of oil, or even gasoline. Federal policy and legislation that effectively locks-up large domestic deposits of recoverable oil and gas make domestic gasoline and energy price increases even more certain to affect Prius drivers and their families.
I'm not falling for this, sounds like the argument of a speculator.