Posted by Rollie NE PA on March 14, 2008 at 17:04:07 from (64.136.26.228):
In Reply to: fuel prices posted by jayinNY on March 13, 2008 at 17:28:55:
Well I figured I would add my 2 cents. I watched an oil analyst on tv say that if Uncle Sam was not buying so much oil to put in the national reserves the price per barrel would come down considerably. I spent last weekend doing research on the current oil prices. First there is no shortage of oil. If you have the money,you can buy as many barrels as you want. The price that we see oil trading at on the world market is not the price that the refiners are paying. It is alot less. Oil bought on the spot market is also less expensive. I work for a government agency and our fuel is bid. The low bidder over the years has been a traders group out of Indiana. I believe we pay .02 a gal. over the Rack price. The gas comes from different Racks depending on who has the lower price that day. What I don't like is the fact that we give the oil companies huge tax breaks. And the fact that the oil companies want to control all forms of energy. They are buying Wind Rights, alternative fuel rights, coal rights and they are in to solar energy. Once they control all of our energy needs we will be in deep doo doo.
By the way OPEC's web site claims that there is enough oil for the next 81 years.
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