Interesting That The Price Of Oil Has Gone Up Every Day For The Last Ten - Why?.......

[global1]

Well what significant event happened about 10 days ago?

Now that the oil companies don't have BushCo to help them - did they take matters into their own hands or is my tinfoil cap on too tight?

[DJ13]

1. Oil speculators dont need underwear to screw the rest of us

A slight breeze is all it takes.

[Goldstein1984]

2. It got cold. The speculators started buying oil

With globalization and limited oil supplies, when the global economy is good and demand is high, there will never again be cheap oil and a healthy global economy simultaneously.

Worst case scenario: The global economy recovers faster than the U.S. economy (which it is), driving up the price of heating oil and gasoline for people who already can't afford to pay their heating oil bills.

[Cirque du So-What]

3. Cold weather, from what I heard on NPR today

...not that Big Oil needs a reason to hike prices, mind you...

[dkf]

4. Worldwide cold snap.

Even higher demand for natural gas.

[azurnoir]

5. Cold snap and Yemen especially Yemen

any risk of any more shit in the region is an excuse

[denbot]

6. For the tenthousandth time here, it's not the speculators

The total amount traded on the NYMEX is a fraction of the amount used per day. The oil industry sets pricing using the small volume of deliverable crude and unleaded contracts as a cover.

I know this because I traded these markets as a series 3 broker.

[bridgit]

7. Is this close enough to 10 days ago: Russia-Norway Teaming Tops Iraqi Oil Bids

http://www.cbsnews.com/stories/2009/12/12/business/main5972013.shtml http://www.reuters.com/article/idUSTRE5BA0HH20091212

[Warpy]

8. Commodities are being gamed again

Since the dollar is up and demand is still down, that can be the only explanation, too many hoarded dollars looking for the next big bubble.

That's the problem with wealth concentration. It gets to a point where it can no longer directly feed on unfair tax laws and needs to bleed money off middle class people who want to get richer some way. The bubble market was designed for idle money. By the time the middle class notices and jumps in, the big money is being withdrawn, allowing the middle class to support prices just long enough for them to get out, and leaving them with an empty bag.

Bubbles will be getting smaller and smaller until there is no more money to bleed off, at which time the stratification will be complete: a tiny, de facto aristocracy at the top and a vast peasantry trying to scratch a living out of nothing.

Or unless the government gets terrified enough of the peasants to enact confiscatory taxation at the top in order to stop this process cold.

[cutlassmama]

10. doubt that will happen

[Historic NY]

9. Even corn alcohol has gone up 50 cents since the end of Sept...here in NY

[dbt]

11. The Christmas season was over.

Time to start jacking up the prices again, lest the consumer think s/he was getting a break. OR:

Why are they raising gas prices again? Because they can.