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View Diary: Open thread for night owls: Was the global oil market rigged? (77 comments)

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  •  It's amazing that anyone could ask the question (1+ / 0-)
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    Hmmm. Let's see.

    We've got one major organization, OPEC, that is very forthrightly all about manipulating the price of oil.
    We've got a major share of the global market in the hands of a few major international players who must certainly chit-chat about, ummm, everything else in the world EXCEPT for oil when they get together at the club wink-wink.

    But even if we didn't know that,  it seems so damned obvious from watching prices over the last few years.  How often can you correlate a price spike with something that ought to spike the price?  How often does the price spike when there is international news -- regardless of whether it affects supply?

    The real question:

    Will anybody take away the right lesson?

    Eliminate dependency on the stupid oil!

    LG: You know what? You got spunk. MR: Well, Yes... LG: I hate spunk!

    by dinotrac on Thu May 16, 2013 at 01:39:46 AM PDT

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