What the oil execs didn't tell you

The Oil Industry has been moved from the open and transparent market to behind closed doors, it is one of the most secretive businesses in the world.

Speculation on oil is done by hedge funds, financial institutions, banks, and the oil companies themselves, these speculations drive up the price of oil based on false information of supply and demand and other conditions, future speculators save a 16-1 leverage on crude oil, meaning the people are paying high at the pump for what is left on these speculators 16-1 leverage, creating massive profits.

Oil is at its highest production ever, with many new oil fields to still be touched on and demand flat the price of oil on a tranparent market would be going down, instead these criminals get away with billions of dollars in profits while the majority of the world suffers.

Category:

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[colmmernagh]

" T.boone Pickens " now thats a good ole american name if i ever heard one.

5 Star for the message !!

[jashepard]

thanks friend.

[yostevoak1]

Iran's threat to leave the dollar for the Euro, and our threat to invade is what's driving spectulation in my opinion right now.

[jashepard]

they've gone to euro already, for a while now I believe actually, so no absoluteley no reason for speculation of high prices

[fredocorleone]

Goldman would be bankrupt right now if the FED didn't bail out the investment banks.

Goldman thanks the American taxpayers by using the FED's bailout money - U.S. treasuries - as leverage to speculate, run up, and hype up the price of oil. Kind of counterintuitive for the FED to bailout the investment banks when those banks plan to counteract the FED's moves...

The investment banks need to die. It's corrupt that the FED actually helps these investment banks to screw us consumers.

[nameofthepen]

At 1:32 is mentioned the major problem faced by "Big Oil".

But I bet keeping the lid on the news of several alternative, non-polluting, never-ending and CHEAP sources of energy is a problem, too.

[robk2020]

Which has MORE advantages and FEWER disadvantages:

1. A Centrally Planned Government Economy; or

2. An Economy where Production is in Private Hands

Ask someone who lived in Soviet Russia or North Korea before you answer.

[babyface1523]

I agree with you a 100% and whoever gave you a thumbs down is economically retarded! Demand fell, causing a drop in prices... The U.S. was the largest oil consuming country in the world by a wide margin... Now china is not far behind, whether this guy wants to admit it or not we dictate the market as much as speculators!

[mrmultidextrous]

You're wrong. The oil price collapsed because demand fell off because of the spike in prices. Real data from all sources say that we have entered into peak production, and oil production will decline. As to the value of oil, I think it's actually pretty cheap. If you think that oil is too expensive, then stop using it. I agree with you that a speculative bubble drove up prices, it is indeed a strange bubble, but history is filled with speculative

bidding up of commodities.

[happyphil3]

Something the mainstream media should talk about!!

[esiewm]

Oil goes past $200? Gas goes up to $5, $6, $7a gallon? Fine let it.

The American economy will collapse anyway. I say let these oil executives rip us off, because sooner or later, its going to remake society, causing a major change in what people consider "important". Once the grim realities of our economy set in and we are out of the mindset of endless wars with muslim nations and supporting the retard in the white house, THAT will be the day that oil executives will be in real trouble.

[CCPnoob]

btw circus boy is an idiot also :) - a PHD in transportation issues (which does not exist unless you can give me a more definitive phd category) DOES not at all qualify you for enegy consumtion and or economics. - If oyu have a PHD you also have ccredentials so post them here or link ous to a place you can see them sir.

[CCPnoob]

maker of this video - your stupid

For example each year 5-7% more chinese own cars - currently 16mil own cars and whats 5% of that? thats 750,000 more people will drive cars this year - each year that number will increase! - and oil production is on a plato - before it was rising with demand now deman rises and production doesnt.

[MrMikomi]

What a heap of tosh this video is. The problem is that current demand exceeds current supply.  Therefore rationing is taking place. It's that simple. Speculation my ass.