On Wed, 09 Mar 2011 18:20:15 -0800, jps wrote:

On Wed, 09 Mar 2011 17:14:18 -0500, Wayne.B
wrote:

On Wed, 09 Mar 2011 10:10:50 -0800, jps wrote:

Supplies have been going up since the start of the year, and so is the
price. That's nothing to do with supply/demand but speculation.

Who owns those supplies and why did they build their inventories?
You might be surprised to learn that the motives might have more to do
with availability than price. If so, that's commendable . No one
wants to be caught short or stuck in lines at the station. In any
case, building inventories is a self limiting process because there is
only so much capacity.

You mean there's only so much storage capacity. Wasn't Morgan Stanley
manipulating some commodity a couple of years ago by purchasing and
storing it's own supplies?

How's that fit your model? Pure freaking speculation.

I just heard on the news tonight that oil future contracts have gone
from 600,000 in 2008 to over 1,100,000 today. $200 billion dollars
has come into that market over the last few years, all speculative.

The Obama administration is going to put limits on positions, which
should help curtail the profiteering.

There has never been as much reserve and stable demand. Fuel prices
are being driven somewhat by world news but certainly by speculation.