what do you think about this article on oil prices?? its right biased...

[southernleftylady]

For the first time ever, Americans are consistently paying $2 or more per gallon of gasoline. Not surprisingly, we don't like it, and would prefer to return to those past days when filling our vehicles did not require the better part of a week's paycheck.

Now, while these prices—as high as they are—do not match in inflation-adjusted terms what we were paying at the pump two decades ago, they still pack a strong punch. Given that prices have risen quickly in the past two months, a host of myths and conspiracy theories have been circulating, fed by "consumer activists," leftists, and the usual gaggle of politicians. Like the Borgia family of Medieval Italy of whom it was said that "they learned nothing, and they forgot nothing," Americans refuse to learn the hard lessons that this new round of price increases is teaching us.

In order to learn the lessons, however, we first must be confronted with the myths and fallacies that currently prevail in conversation and in our vaunted "free press" media. Here are some of them:
• These price increases are arbitrary and are being driven by "corporate greed,"
• Oil companies are "conspiring" to drive up prices in order to earn "obscene" profits,
• Oil companies are holding back reserves and "manipulating the market" in order to gain these high prices,
• Oil companies have "monopoly power," which permits them to "pass on" the increased costs to consumers,
• The current price hikes are the result of a plot involving the White House and oil companies to increase profits of oil firms, which are tied both to President Bush and Vice President Cheney,
• OPEC is to blame.

In dealing with each of these myths, we must first remember that most people, while instinctively understanding the effects of the forces of supply and demand, generally fall prey to economic fallacies. While a lot of public rage is directed at oil firms (and energy companies in general), the real problem is that public ignorance fuels the actions by politicians that have caused the current difficulties in the first place.
http://www.businessreform.com/article.php?articleID=10628

[mirandaod]

1. Ignores the real problem

which is, we're running out of the stuff, and we need radical change in our consumption and developement of alternative, renewable fuel sources.

[Fovea]

2. I am forced to conclude a few things from this

First, free market capitalism is a deal that is not
open to brown colored people.

Second, when Arabic Princes sponsor welfare states and propagandist
education systems, this is ok. When Central or South American Socialists advocate this, it is horribly wrong.

Just because there is more demand from Asia for oil does not mean that there is no market collusion. Of course if there was a free market, cartels would be just another market force. Suck it up, Republicans.
Buy a bike, Democrats.

Fifty a barrel is the new target *floor* not the new ceiling.

[Tandalayo_Scheisskopf]

3. One of the biggest reasons:

Hedge Funds are driving the speculation in the oil market, to the degree that they are able to generate these wild fluctuations in price that we see.

There is a name for this sort of thing: market manipulation.

[BlueEyedSon]

4. Its a "Faith Based Business" magazine

I prefer economics, science and logic.