On Tue, 25 Jul 2006 16:40:09 GMT, "JoeSpareBedroom"
wrote:

People who know more than you and I about this say that $15 to $25 of the
current barrel price is comprised of speculative excess.

That statement is speculation in and of itself.

So called "speculative excess" is mostly people who need oil on a
regular basis trying to ensure future supply guarantees at a price
they can live with. People like your utility company for example, or
your airline.