GaryL1 Wrote:
Sep 18, 2012 12:23 PM
We can't regulate what the owners of the Saudi oil fields will charge, and the government of Venezuela will charge for oil. They have a syndicate of oil exporting nations where they set prices, which would be illegal in the US. You seem to forget how low the price of gas went about a year ago. By the way, oil is not on the stock market. If oil companies are really fixing prices, then why do they bother to advertise? Why do the major producers sell their gas to independents at a lower price? Why has ARCO with its lower prices been allowed to exist? Competition! I think that without speculators, there could be a shortage of gas because oil companies won't see a future demand.