There is no gas shortage...

[Sgt Beavis]

If you haven't noticed that gas prices are sorta high, you're either dead or live the life of a hermit..

But have you noticed that you never really have to wait in line to get your gas? Seems to be plenty of gas around.

So read this.. The mainstream media is finally starting to touch on this subject but Ed Wallace, writing for Businessweek started hitting on this subject a long time ago...

Read the whole thing and prepare to be pissed.....


"They see speculation in the market, I see decline in global inventories. I don't think this is a big surprise, that we've had a jump in price when there has been a decrease in crude inventories."— Energy Secretary Sam Bodman, Bloomberg News, Mar. 5, 2008

"It should be obvious to you all that the [gasoline] demand is outstripping supply, which causes prices to go up." — President George W. Bush, Associated Press, Mar. 5, 2008

One wonders if verifiable facts ever get in the way of this administration's statements on issues that are critical to the average American's wellbeing. After all, last time I checked, when politicians are elected to public office, or appointed, as is Energy Secretary Samuel W. Bodman, they must take an oath to the American people before assuming their new positions. How can they forget a sacred oath so quickly? Were they daydreaming when they took it, so it never meant anything to begin with? Maybe it's just another promise you have to make to get into office: When you're securely incumbent you can ignore even solemn oaths you took.

Obviously, the two quotes that led this article came from discussions concerning the current high price for oil on the futures market. Bodman appears to be protecting the speculators in oil, as opposed to looking after the interests of all Americans. President Bush, apparently, has never talked to the Energy Dept.'s Energy Information Agency to see whether gasoline demand is actually up. More troubling, the writer of that particular Associated Press article obviously didn't look up the EIA's numbers to verify the President's assertions. They weren't accurate.

Read the rest here:
http://www.businessweek.com/lifestyle/content/apr2008/bw2008041_945564.htm?chan=top+news_top+news+index_ dialogue+with+readers

BTW, Ed Wallace has created a news aggregator on his website. I've found it to be pretty damn good, especially when it comes to economic and energy related news.

http://insideautomotive.com

[Vertnut]

If you haven't noticed that gas prices are sorta high, you're either dead or live the life of a hermit..

But have you noticed that you never really have to wait in line to get your gas? Seems to be plenty of gas around.

So read this.. The mainstream media is finally starting to touch on this subject but Ed Wallace, writing for Businessweek started hitting on this subject a long time ago...

Read the whole thing and prepare to be pissed.....



Read the rest here:
http://www.businessweek.com/lifestyle/content/apr2008/bw2008041_945564.htm?chan=top+news_top+news+index_ dialogue+with+readers

BTW, Ed Wallace has created a news aggregator on his website. I've found it to be pretty damn good, especially when it comes to economic and energy related news.

http://insideautomotive.com
I listen to Ed every Saturday, as time permits. I do get a little tired of him saying things like, "There's no reason for gas to be high. It's just speculator's". Well guess what? That in itself, is the reason gas is high. Whether it's an actual "shortage" or not, means very little. I heard this morning, that some pipeline in Africa was attacked by some rebels, so oil will open around $117 a barrel.

I've also been reading (this weekend) about the world-wide food shortage that they are attributing, in part, to ethanol and bio-diesel production/demand.

I haven't noticed a slow-down at the pumps yet. Maybe around $4 a gallon, folks will quit driving as much?

[98COBRA#770]

As long as we keep paying why lower the price.........I say we have troops in the wrong country shit while we are over there say king faid (or who ever) has yellow
cake. You know that fat bastard does somewhere in his kitchen and invade them as well. Fuck it the world hates us lets give them a reason with Iraq
and Sadie Arabia we would control most of the oil in the world. We could then
say ok we will give in you can have Iraq back. Then keep king fat ass and his
country I figure oil prices would drop then. Russia would get Iran, China could
take Iraq it's a win win win.


God if it where only that simple right.

[BP]

There is plenty of oil in South America, Alaska and Asia. I don't see why we are married to the middle east.

[HookEm]

There is plenty of oil in South America, Alaska and Asia. I don't see why we are married to the middle east.


Dont forget Mexico.....

[Sgt Beavis]

Dont forget Mexico.....

Or Canada, which is the #1 importer of oil into the US.

Last February they imported 1.888 million barrels of oil PER DAY. The Saudi's only imported 1.614 million barrels per day while Mexico was 3rd at 1.231 million.

Would you believe that Nigeria is the fourth biggest importer with 0.982 million barrels per day?

[black01gt]

There is plenty of oil in South America, Alaska and Asia. I don't see why we are married to the middle east.
A picture is worth a thousand words...
http://i28.photobucket.com/albums/c205/FeatMike/thatexplainsit-1.jpg

[Vertnut]

There is plenty of oil in South America, Alaska and Asia. I don't see why we are married to the middle east.
There's "plenty of oil" right here in the damn USA, if the bastards would let us drill it, and refine it. Come on now...

[black01gt]

There's "plenty of oil" right here in the damn USA, if the bastards would let us drill it, and refine it. Come on now...
The US is being drilled at a break neck pace. And it's not the tree huggers that are restricting refining. ;)

[Vertnut]

The US is being drilled at a break neck pace. And it's not the tree huggers that are restricting refining. ;)
It takes up to 5 YEARS to actually produce from when they decide on an off-shore site, once everything is in place. I didn't mention liberals, though they play their part. What about refineries? The last was built in, what, the '70's?

[Sgt Beavis]

A picture is worth a thousand words...
http://i28.photobucket.com/albums/c205/FeatMike/thatexplainsit-1.jpg

I'll see you're Bush and raise you a Clinton..

http://www.saudiembassy.net/Publications/MagWinter02/Images/9-Clinton.gif

[98COBRA#770]

Make's you wonder how many ladies of the evening (my attempt to be nice today)
are under those robes they where. No dought we pay for any and everything too
keep the sick fucks happy. Never mind they have public beheading.

[Slowhand]

A picture is worth a thousand words...
http://i28.photobucket.com/albums/c205/FeatMike/thatexplainsit-1.jpg

yes it is:

http://i164.photobucket.com/albums/u29/chsretiredathlete/alasknwra3.gif

[AL P]

He left out the part where the oil comes out of the ground and the Chinese guy is standing there willing to pay $116 a barrel for it. And that is the most important part.

[Vertnut]

He left out the part where the oil comes out of the ground and the Chinese guy is standing there willing to pay $116 a barrel for it. And that is the most important part.
You're right. It's still all about demand, but no one wants to admit it. They think it's our "God-given right" to run all the oil in the world. If we don't want to pay for it, someone else will. The other thing is the Texas economy is doing pretty well compared to the rest of the country. The presence of oil/gas doesn't hurt one bit.

[TexasDevilDog]

we've had a jump in price when there has been a decrease in crude inventories ,if inventories are drawn down that means increased demand over supply.

and
the [gasoline] demand is outstripping supply, which causes prices to go up, which means increased demand over supply.

Sounds the same. What am I missing? :confused:

[Sgt Beavis]

we've had a jump in price when there has been a decrease in crude inventories ,if inventories are drawn down that means increased demand over supply.

and
the [gasoline] demand is outstripping supply, which causes prices to go up, which means increased demand over supply.

Sounds the same. What am I missing? :confused:

You've got to read the whole article.

Basically GW and his DOE secretary are either woefully uninformed or lying. While the Energy Secretary goes on Bloomberg and states that there has been a decrease in crude inventories, his own DOE website shows exactly the opposite...

[black01gt]

What about refineries? The last was built in, what, the '70's?
Yep. And the last permit applied for was in '76. It was granted and financing was in place to build (actually refurbish an old one in California) until the oil majors told the banks that if they financed it they would break em. So the financing was rescended. The application was from Pat Robertson and The 700 Club.
There's no reason why they can't develop more refineries in Beaumont, Houston, Corpus, Bakersfield, West Texas, etc, etc....

Oil production in West Texas is going ape shit. It's like the booms years ago. A lot of oil discovered during the '80s was "shut in" til the price was right.

[TexasDevilDog]

In January of this year, the U.S. used 4% less petroleum than we did a year ago.

Yes, and the United State is an island economy unto itself. :rolleyes: Want to know who is sucking all the oil up.

William Chandler, an energy expert at the Carnegie Endowment for International Peace, estimates that if the Chinese were using energy like Americans, global energy use would double overnight and five more Saudi Arabias would be needed just to meet oil demand. India isn't far behind. By 2030, the two counties will import as much oil as the United States and Japan do today. http://www.iht.com/articles/2008/04/20/business/oil.php

China’s demand for oil products will grow by 6 percent this year to 398 million metric tons (about 8.5 million barrels per day), amid rapid economic expansion and soaring automobile sales. Domestic crude production is expected to grow by 1 percent to 188.4 million tons, or 3.7 million barrels per day. Consumption of gasoline, kerosene, and diesel fuel is expected to increase by about 5.4 percent over 2007 levels, largely the result of increased automobile use. In 2007, China’s vehicle sales reached 8.3 million units, up 16.3 percent over 2007. About half of the country’s gasoline and diesel consumption is used in the transportation sector.
http://www.energytribune.com/articles.cfm?aid=817

China and India have vibrant growing economies with growing numbers of middle class people. They all want what you want. China and India use to be 60-70% of the world economy before the 18th century and industrialization. They will be again if they continue to moderize.

China's GDP growth in 2008 is likely to slow from the 11.9 pct posted in 2007, as growth in investment and exports decelerates, according to Xu Xianchun, deputy director of the National Bureau of Statistics. http://www.fxstreet.com/news/forex-news/article.aspx?StoryId=5c717daa-0c0e-45a5-b3b6-7018371f37ad

[Vertnut]

Yep. And the last permit applied for was in '76. It was granted and financing was in place to build (actually refurbish an old one in California) until the oil majors told the banks that if they financed it they would break em. So the financing was rescended. The application was from Pat Robertson and The 700 Club.
There's no reason why they can't develop more refineries in Beaumont, Houston, Corpus, Bakersfield, West Texas, etc, etc....

Oil production in West Texas is going ape shit. It's like the booms years ago. A lot of oil discovered during the '80s was "shut in" til the price was right.
My wife works for an oil refinery, actually. They are in Artesia, New Mexico, and running 110% of capacity...

[mikeb]

What if a future could only be sold once? You think speculators would be interested in something they could not resale?

How it could be enforced? I don't know, unless the future is assigned to a 3rd party that manages it from cradle to grave.

[TexasDevilDog]

What if a future could only be sold once? You think speculators would be interested in something they could not resale?

How it could be enforced? I don't know, unless the future is assigned to a 3rd party that manages it from cradle to grave.

A person that speculates in the market, sooner or later have to sell in to the market. So, they will at some time, add supply back to the market.

[Sgt Beavis]

My wife works for an oil refinery, actually. They are in Artesia, New Mexico, and running 110% of capacity...

The numbers that refineries have been reporting to the Department of Energy don't jive with that....

http://tonto.eia.doe.gov/dnav/pet/pet_pnp_unc_dcu_nus_m.htm

In fact, those numbers show that the utilization of Operable Capacity has been dropping since July 2007, except for a little uptick in January.

[Sgt Beavis]

Just to define what "Operable Capacity" is.

from the DOE's website:

The amount of capacity that, at the beginning of the period, is in operation; not in operation and not under active repair, but capable of being placed in operation within 30 days; or not in operation but under active repair that can be completed within 90 days. Operable capacity is the sum of the operating and idle capacity and is measured in barrels per calendar day or barrels per stream day.

[Vertnut]

The numbers that refineries have been reporting to the Department of Energy don't jive with that....

http://tonto.eia.doe.gov/dnav/pet/pet_pnp_unc_dcu_nus_m.htm

In fact, those numbers show that the utilization of Operable Capacity has been dropping since July 2007, except for a little uptick in January.
I'm just speaking of one that I know about. With the exception of safety inspection delays, which are common, those numbers are good.

[mikeb]

A person that speculates in the market, sooner or later have to sell in to the market. So, they will at some time, add supply back to the market.

I was thinking that no speculator wants to wind up with a crapload of oil that they have no use for. The "one sale" rule would ensure that only end users of the future would be the ones buying it, and fair price competition would ensue.

Ah well, it was just a thought.

[GhostTX]

Its such crap. When we're required to have something just to function in the society, I hardly call it a warranted demand. You have to have it. Its right along electricity and water. You simply need it to function in society.

Gas going up.
Electricity going up.
Food prices going up.
Consumers, producers and retailers are beginning to react to the trend by devising strategies to cope with the rising costs of just about everything. Retail food prices increased 8 percent in the first quarter of the year, the American Farm Bureau’s “Voice of Agriculture” said March 27. That increase comes before food producers’ cost for the current planting season is found in consumer costs; before the annual switch over to summer fuels; and before farmers and ranchers begin competing with vacationers for gasoline.
http://www.herald-democrat.com/articles/2008/04/21/local_news/doc480cba8c9c439661338062.txt

God forbid water gets deregulated. We won't have any money to even think about going out to a movie.

[Yale]

We really need to reformulate our refining process. We need more diesel, and one of the additives that replaced MTBE is a derivative of the refining process. I can't remember which one it is, but if we made more diesel, we'd make more of it, and since we mostly make gasoline, we can't make enough of that additive to match gasoline production, and that again is another reason gasoline is so high.

[Sgt Beavis]

We really need to reformulate our refining process. We need more diesel, and one of the additives that replaced MTBE is a derivative of the refining process. I can't remember which one it is, but if we made more diesel, we'd make more of it, and since we mostly make gasoline, we can't make enough of that additive to match gasoline production, and that again is another reason gasoline is so high.

MTBE is used as an oxygenate in gas production. It was replaced by Ethanol as of 2005. As of late 2006 it was almost entirely eliminated from the refining process.

Diesel, Jet fuel, kerosene, and heating oil are all called Distillates that are actually left overs from the refining of gasoline. With the refiners cutting production of gasoline, the production of Diesel is automatically cut. Also, it doesn't help that the new Sulfur rules have complicated the diesel refining process...

[Yale]

Yeah, If I wasn't so tired, I'd go look it up. It's not MTBE or ethanol, but something else that is a different additive. It's a major reason that gas is so high right now, even though crude oil inventories are at the highest point in 14 years. Also, OPEC, with the exception of Saudi Arabia, doesn't really have much more refining capacity.

[Sgt Beavis]

Yeah, If I wasn't so tired, I'd go look it up. It's not MTBE or ethanol, but something else that is a different additive. It's a major reason that gas is so high right now, even though crude oil inventories are at the highest point in 14 years. Also, OPEC, with the exception of Saudi Arabia, doesn't really have much more refining capacity.

Look it up when you get a chance, and some rest. I haven't seen anything about that yet.

[Yale]

No rest today, my little brother went to Lew Sterret last night. I could have all this wrong, but here's that article.

http://www.msnbc.msn.com/id/22919642/

[mikeb]

No rest today, my little brother went to Lew Sterret last night. I could have all this wrong, but here's that article.

http://www.msnbc.msn.com/id/22919642/

It is amazing, they always have some way to fuck us, eh? Some shortage of "this" or "that" :mad:

[Sgt Beavis]

No rest today, my little brother went to Lew Sterret last night. I could have all this wrong, but here's that article.

http://www.msnbc.msn.com/id/22919642/

Good Find man!

I googled it and found a more recent article...

http://ap.google.com/article/ALeqM5i5TtajgUpSm7KY5jf-lCJGHBB-tAD904D7G00

However, nice little tidbit in the same article. I've bolded some of the key statements.


Short supplies of alkylate, a blending component key to the creation of summer-grade gas, also have pushed prices higher. Contributing to the price spike, refiners have been cutting back on their production of gasoline, which has a low profit margin. Refiners have to buy the crude they process into gasoline, and soft demand for gas has prevented them from boosting pump prices fast enough to keep up with soaring crude futures.

"The refining margins were poor last month and, as a result, we've seen these voluntary ... or discretionary refining run cuts," said Jim Ritterbusch, president of Ritterbusch and Associates in Galena, Ill.

Ritterbusch estimates that the average difference between what refiners pay for oil and receive for the gasoline they make from it stands somewhere between $13 and $15 a barrel. But in some areas, this difference has actually gone negative at times in recent weeks, meaning that refiners "were losing money on each barrel of gasoline produced," Ritterbusch said.

[Sgt Beavis]

Hey guess what.. GW is FINALLY concerned...

Welcome to the party Georgie. Better late than never ehh?
Too bad he doesn't have a plan to do something about that.

Damn, there goes that "plan" word again. Keeps doggin' the boy...

Sorry folks but I've given up on this man. I voted for him twice and I really do regret it. He has done real damage to this country through his incompetence and pandering.


http://uk.reuters.com/article/oilRpt/idUKN2236158120080422


Bush voices concern about record oil price


NEW ORLEANS (Reuters) - President George W. Bush on Tuesday said he was concerned about record-high crude oil and gasoline prices, and said the United States needs to tap an Alaskan wildlife refuge to boost supply.

"I am obviously concerned for our consumers," Bush said at a news conference along with Canadian Prime Minister Stephen Harper and Mexican President Felipe Calderon.

Before he spoke, U.S. crude prices had hit an all-time peak of $119.90. Average U.S. gasoline prices this week hit a record $3.51 a gallon at the pump, according to U.S. government figures, with prices in some West Coast cities like San Francisco surging past $4.

Bush declined a reporter's request to comment on whether big OPEC producers like Saudi Arabia were coming to the aid of U.S. consumers, but heaped praise on Canada and Mexico - consistently among the top five U.S. suppliers.

"Fortunately Canada and Mexico are our biggest providers, for which we are grateful," Bush said.

Bush reiterated his call for the U.S. Congress to overturn a long-standing moratorium on drilling for oil in Alaska's Arctic National Wildlife Refuge (ANWR), home to wildlife like polar bears and migratory birds.

"We should have been exploring for oil in ANWR," Bush said. "As a result we are dependent on foreign sources of oil."

[black01gt]

Hey guess what.. GW is FINALLY concerned...

Sorry folks but I've given up on this man. I voted for him twice and I really do regret it. He has done real damage to this country through his incompetence and pandering.

And don't forget my favorites...cronyism and corporatism; the main and most purposeful culprits. Did you ever actually see leadership abilities from him? I mean beyond the Frat House?

[Paladin]

I'll see you're Bush and raise you a Clinton..

http://www.saudiembassy.net/Publications/MagWinter02/Images/9-Clinton.gif

Nice post, the Bush hater sure ignored it though. Maybe he is a Clinton lover still. :confused:

[Vertnut]

Nice post, the Bush hater sure ignored it though. Maybe he is a Clinton lover still. :confused:
They act like GW invented oil, for Gods' sake. There's been a long list of ass-kissers in the Whitehouse, Clinton being one of the biggest.

[black01gt]

Nice post, the Bush hater sure ignored it though. Maybe he is a Clinton lover still. :confused:
Oh man. hyuck hyuck...you sure nailed me with that one. :o Good job man. Nothing gets by you does it Barney? You're still the king fer sure.

BTW, if it makes you feel like you've made a recruit, the closer he gets to getting the fuck outta my White House the less I hate him. Course I'll never give a rats ass about him and his ilk but life (hopefully after Bush) goes on.

[Yale]

FWIW, my brother finally had his come to jesus moment with alcohol. He got popped for DWI, but he didn't blow, didn't sign the "I won't blow, dammit!" paper, and didn't get a blood test. I think with the right lawyer, he should be in the clear. I'm gonna go get some sleep now. :(

[Paladin]

Oh man. hyuck hyuck...you sure nailed me with that one. :o Good job man. Nothing gets by you does it Barney? You're still the king fer sure.

BTW, if it makes you feel like you've made a recruit, the closer he gets to getting the fuck outta my White House the less I hate him. Course I'll never give a rats ass about him and his ilk but life (hopefully after Bush) goes on.

Just like after your hero left, life went on quite well actually, even after the terrorosist that went inchecked for 8 years changed our country forever. Thank God we had a strong leader to lead us through it and for the 5 or so years of economic prosperity that followed.


I wonder if there are still any semen stains left that Hillary would have to deal w/if she gets elected? LOL

[black01gt]

Just like after your hero left, life went on quite well actually, even after the terrorosist that went inchecked for 8 years changed our country forever. Thank God we had a strong leader to lead us through it and for the 5 or so years of economic prosperity that followed.


I wonder if there are still any semen stains left that Hillary would have to deal w/if she gets elected? LOL
You're of course referring to the terrorist that are still standing and training in the Tora Bora region and still thumbing their nose at us. Gosh...if we only knew where they were... :rolleyes:

"....strong leader and economic prosperity that followed." You're hilarious. Prosperity for China, Saudi, and Chevron of course.

Try to think about something other than semen stains.

[AL P]

After reading a lot, I am convinced that oil will collapse very soon.

[Vertnut]

After reading a lot, I am convinced that oil will collapse very soon.
You think $50 a barrel is foreseeable?

[AL P]

You think $50 a barrel is foreseeable?

Not sure. A lot of people say $60 is the true market price once you remove speculation, they've been saying it for years now. It has to blow up sometime though.

[Vertnut]

Not sure. A lot of people say $60 is the true market price once you remove speculation, they've been saying it for years now. It has to blow up sometime though.
At this point, I'd take $70-$80...

[mikeb]

After reading a lot, I am convinced that oil will collapse very soon.

Please do elaborate. I just noticed it's at $118 right now.

[Paladin]

You're of course referring to the terrorist that are still standing and training in the Tora Bora region and still thumbing their nose at us. Gosh...if we only knew where they were... :rolleyes:

"....strong leader and economic prosperity that followed." You're hilarious. Prosperity for China, Saudi, and Chevron of course.

Try to think about something other than semen stains.

I am referring to the terrorists who are no longer attacking our country, on our soil, how convenient you libs forget that part. :rolleyes:

Do you deny we had economic propserity from '02 to '07? I am waiting for a yes or no before you go to your usual Bush-hating rhetoric. If no, then explain, but please answer a question as posed for once dude.

BTW, I could show you the graphs from my investments during that time to prove it, especially if you don't have any to refer to for help in deciding about the prosperity others had during that time.

I know you want to forget about the semen stains your hero left, I just like bringing them up to poke easy fun at you Bush-hating Clinton-loving types. :p

[Paladin]

Not sure. A lot of people say $60 is the true market price once you remove speculation, they've been saying it for years now. It has to blow up sometime though.

I hope it does just like the housing market blew up for all the people who should not have been buying houses because they had not saved/earned/prepared enough to buy a home.

I have 10 years before I retire from the PD and the sooner all these artifically inflated markets implode, the sooner they can recover and stabilize before I retire.

[AL P]

I hope it does just like the housing market blew up for all the people who should not have been buying houses because they had not saved/earned/prepared enough to buy a home.

I have 10 years before I retire from the PD and the sooner all these artifically inflated markets implode, the sooner they can recover and stabilize before I retire.

Just be glad you don't live in California, the real estate is so cyclical there that you can be caught in a jam if you need to sell your house for an emergency in retirement.

[AL P]

Please do elaborate. I just noticed it's at $118 right now.

Look at supply and demand over the last $30 of the price increase. Really not that much difference. China's demand grows at 4.5% per year. U.S. demand is down. Sure, the dollar is weaker but not that much weaker. Also look at the media. Every story remotely related to oil is used to explain a price increase, even stories about situations where the price should come down. Whats really happening is the price is going up for no reason at all.

The Arabs know all of this, that's why they don't increase production. The high prices are also counter productive to their situation since it encourages research and conservation. They could spend the capital dollars to increase capacity but why do that to lower the price? That's nuts.

That leaves the speculators duking it out in the trading pits. The price will go higher and higher until the music stops, the margin calls come in and the market is flooded with supply.

[Zarathustra]

Look at supply and demand over the last $30 of the price increase. Really not that much difference. China's demand grows at 4.5% per year. U.S. demand is down. Sure, the dollar is weaker but not that much weaker. Also look at the media. Every story remotely related to oil is used to explain a price increase, even stories about situations where the price should come down. Whats really happening is the price is going up for no reason at all.

The Arabs know all of this, that's why they don't increase production. The high prices are also counter productive to their situation since it encourages research and conservation. They could spend the capital dollars to increase capacity but why do that to lower the price? That's nuts.

That leaves the speculators duking it out in the trading pits. The price will go higher and higher until the music stops, the margin calls come in and the market is flooded with supply.

That right there sounds like a man with his head placed firmly on his shoulders, nowhere near his ass.

[1carcrazyguy]

Media hype working its magic again.... :mad:

$200 per barrel oil coming soon (http://www.msnbc.msn.com/id/24316855)

[Sgt Beavis]

Look at supply and demand over the last $30 of the price increase. Really not that much difference. China's demand grows at 4.5% per year. U.S. demand is down. Sure, the dollar is weaker but not that much weaker. Also look at the media. Every story remotely related to oil is used to explain a price increase, even stories about situations where the price should come down. Whats really happening is the price is going up for no reason at all.

The Arabs know all of this, that's why they don't increase production. The high prices are also counter productive to their situation since it encourages research and conservation. They could spend the capital dollars to increase capacity but why do that to lower the price? That's nuts.

That leaves the speculators duking it out in the trading pits. The price will go higher and higher until the music stops, the margin calls come in and the market is flooded with supply.


hammer, nail.... nail, hammer [/intro]