Kevin thinks he’s seen the light. Let’s all ask OPEC to increase production, that’s the reason why the price of petrol is so high (SOURCE). Of course it will help. OPEC is on record as saying that supply is not outstripping demand at present (SOURCE), although of course the rest of the world is left wondering. I think it should be clear to all of us by now that trading on the futures market is what drives the price of fuel. This week saw some uncertainty about the stability of the middle east (although I’m not at all sure why this week is any different form any other week) when Israel said it was going to target Iran and blow up a few nuclear installations (SOURCE)(well not exactly that, but that’s what it means). So, another conflict in the middle east and what happens, it swoop the profiteers and up goes the price of oil based on the notion that something might happen that might reduce the supply of oil, so if it does happen there will be a short supply and it will cost more so I’m going to guess that because of that I’ll pay more for it now.
I know as much about futures trading as I do about the compistion of gases in a sparrows fart. What I do know though, is that both things are on the nose, and nobody is pointing out the bleeding obvious. Someone, somewhere is making stacks of money and it isn’t me. Bastards, stop it.