The price of crude oil has crumbled over the last year. In fact, last week it was so low that OPEC - the organisation of petroleum exporting countries - wanted to intervene. Meanwhile the price of petrol at the pumps is skyrocketing... again!
Senior foreign affairs correspondent Bernard Hammelburg thinks both the price of crude and petrol/gasolene have nothing to do with shortage or abundance, or with mild or cold winters. Speculation is the only factor of any importance.
The proof: the catastrophic oil spill in the Gulf of Mexico will seriously slow down production in the years to come. So the price of crude really should rise steeply. But it isn’t. And at the same time, the price at the pump is staying high... very high.
Any and all re-use of the lead photo by thepocnet/flickr is governed by the CC licence attached to this page.
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April 20, 2010
This is a real ecology genocide and now with the dispersant we all state of the Gulf will be a second hand oil spil ; nothing new is a clean act put it under the carpet. Like the second hand cigarret smoker only lawyers benefict of it. It is the Burga that BP use.
America MoneyCracy
It is not true that life is one damn thing after another-it's one damn thing over and over.
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