Friday, May 05, 2006

Anxious Oil Investors

This article showed me a side of the gasoline pricing that I had never thought about. There are actually investors who become anxious as crude oil prices fall below $70 per barrel. I had no idea that this side even existed, call me naive, but I had more faith in people. These people need to realize that just because they are benefitting from high crude oil prices does not mean that it should continue to happen. Investors are costing the average person way more than whatever the price is to fill up his/her individual car. Along with that cost comes the fact that many people around the world have decided to only drive when necessary and are carpooling more often now than ever before. "Investors have scrambled for oil exposure on hopes that strong demand, years of underinvestment and mounting political risks will keep the market's three-year rally running strong." Can this be serious? The average person would most definitely not call the ever increasing gasoline prices a three-year rally. In all honesty, how do investors who are forcing prices to continually rise think this is productive for anyone but themself?

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