Unhypnotized
Truth feeder
George Washington’s Blog
Saturday, May 14, 2011
Under probing questioning by Senator Cantwell, Exxon Mobil CEO Rex W. Tillerson admitted that oil should be $60-70 dollars a barrel based on supply and demand:
Some of the increase in price above this “supply and demand” level price is due to companies using futures contracts to lock in oil prices to ensure certainty (which is a valid business purpose).
Some of it is due to speculation. Indeed, using high frequency trading, it is relatively easy to manipulate the price of oil.
Source...
Saturday, May 14, 2011
Under probing questioning by Senator Cantwell, Exxon Mobil CEO Rex W. Tillerson admitted that oil should be $60-70 dollars a barrel based on supply and demand:
Some of the increase in price above this “supply and demand” level price is due to companies using futures contracts to lock in oil prices to ensure certainty (which is a valid business purpose).
Some of it is due to speculation. Indeed, using high frequency trading, it is relatively easy to manipulate the price of oil.
Source...
