It's just another price bubble. Everyone sees a trend and assumes it will continue indefinitely. Then the bubble pops, and someone's left holding the bag.
In the mean time, we pay higher gas prices because current gas prices are based on oil futures.
0 Replies
Reyn
1
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Mon 3 Jan, 2011 01:26 pm
@blueveinedthrobber,
Quote:
... Drivers have faced rising prices at the gas pump in recent months, as investors and oil-producing countries hoard supplies in anticipation of a global economic recovery later this year. ...
article you posted is over a year old . Market conditions have changed because China and India have ramped up demand.
I know that, but we're not talking about a small to medium expected rise in prices here...we're talking huge. I don't buy that china asia argument, although I'm sure it's a contributor.
I will bow to your expertise and am interested in your analysis farmerman
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