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Half the speculators are sellers and half are buyers. The sellers think oil will go back down and the buyers think it will go higher. Who exactly are the bad guys?
You might find out that airline passengers are more willing to pay up to fly when they know it won't be a dreadful experience.
Why are you guys so wound up about this letter? These guys are clearly amateurs in understanding the airline biz as evidenced by the above statement. There is 30 years of evidence to the contrary that people will be willing to pay more for "better service". Clearly ignorant kid talk.
There are many estimates being made by observers of these markets, economists and industrial energy consumers suggesting that the price of a barrel of crude oil could be anywhere from 25 percent to 100 percent in excess of what market fundamentals would dictate. For example, (the Organization of Petroleum Exporting Countries) has recently said that a barrel of crude should not be in excess of $70, and it has opened its own investigation into excessive speculation in these markets to find out what interests are causing the price to be almost double that.
you sir are a clown....try pulling your head out of Fox News's A$$.
Yes! Most Americans are clueless as to the size of Alaska and the size of ANWR. ANWR is the size of Washington State and the area proposed for use is the size of a college campus within Washington State. I laugh at any environmentalist that says the caribou will not have enough room to roam, it's preposterous. Secondly, ANWR lies next to the Canadian boarder, do they think the caribou only stay on the American side when they migrate thousands of miles? Asinine. Finally, I've been to ANWR and there is nothing there. Once you get North of the Brooks Range it is flat as a pancake and cold as hell....there is nothing there.
Sorry to vent but let's open up that place already. I don't believe it will do much for the price of oil but it will for Alaskas future. A future I put above the caribou migration that will never be affected.
Get the HELL out of here!!!! The price does not reflect market realities in any way. There is nothing rational about any of this. The speculators are a middleman that provides no value added! Their chunk of the pie has grown to about 50% of the market price. Add value or be removed from the transaction. That is good economic policy.
PIPE