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Oh, oh, FW is agreeing with me again!
Right again, sort of, but the speculators are not part of OPEC. They are the good people who trade in oil and gasoline futures in the commodities market. Watch the movie Trading Places for a lesson, sort of, in how it works.
posted by
WriterofLight
on July 26, 2006 at 7:50 PM
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You hit the nail on the head ...
the price is being determined by speculators. Oil is not governed by a "free" market. Oil is controlled by a cartel, and the guys who run OPEC learned how to manipulate prices at the harvard school of business.
posted by
fwmystic
on July 25, 2006 at 1:08 PM
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