Crude oil slide puzzles nervous U.S. market

So why has gasoline increased by ~50¢/gallon in the last2 weeks??????

Good thing speculating/playing the oil market doesn’t affect the price of oil. Im sure a huge gush of oil shot into some barrels somewhere during that one second and increased the supply….

No matter what we do to manipulate the price of crude, it just won’t stay! That’s what it should read.

Remove crude as a commodity, do not allow speculators to determined the price. You make a car, you sell the car, that’s it. You make a rug, you sell the rug. you make eye glasses, you sell, etc. etc.

The real mystery here is why do we continue to let a few speculators make the price of oil drop and fall at their whim. It should be considered a national security issue and outlawed. Noone should be able to buy the oil unless they assume ownership for resale. Lets see what the price of gas would become then.

@JimboK

The environmentalists and the EPAs success at blocking new refineries means we are suceptable to higher gas prices when existing refineries have stoppages. That is why has is high. Gas is not oil.

Disturbing market forces at stock exchange or commodity exchange is good in serving some special interests (like US political interests in case of crude oil price) until US has power of a gun to push the supplier to sell at “US market” price and in USD. There will be a moment when none of this will work and it is neat, 5-10 years. The price for US buyers will be fixed at European or Asian exchanges and denominated in SDR’s or similar currency or gold.