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View Diary: Green diary rescue: Koch Bros. have it in for us in more ways than one (47 comments)

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  •  Are they behind the rise in oil rices? (4+ / 0-)
    They don't want good paying green tech jobs in the US because that would hurt their bottom line.  They are sellers of foreign oil and refiners of foreign oil products.  Green technology, conservation, energy efficiency, restrictions on carbon emissions, regulations regarding air and water pollution, all of which would lead to many, many American jobs would hurt their business interest in selling you and I dirty oil from the holdings abroad, and dirty oil products that they refine. …

    Has anyone noticed how much the price of oil has gone up in the past few weeks, despite there being no additional demand for petroleum products in the past month and especially since we now have an 18 month supply of oil in the Strategic Petroleum Reserve?  Yes, there's a lot of political and social unrest in the Middle East, but it's not happening in the major oil producing countries like Saudi Arabia, Kuwait, and the United Arab Emirates.  And while unrest goes in in Libya, they haven't actually stopped or even curtailed production there.  So why the sudden spike in oil prices?

    Could it be that the Koch Brothers are speculating on oil futures to make a blatant money grab? It looks like a repeat of 2008 just prior to the financial crash.

    •  Yes - speculation is causing the spike in oil (0+ / 0-)

      prices. Unsettled supply situations in Libya and other oil producing nations in the ME are giving speculators the chance to jump on future price uncertainty and trade away.

      Good news on potential shortages drives up prices. When supply appears more certain, prices drop. The market is based on fear, hope and software programs. As long as there is potential change in supply, traders push the trends and profit - at the expense of all whose transportation is oil-based.

      Of course that is most of the industrialized world.

      Those who deny freedom to others deserve it not for themselves. - Abraham Lincoln

      by 4Freedom on Sun Mar 13, 2011 at 09:30:37 AM PDT

      [ Parent ]

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