Are (Drill) Oil (Drill) Prices (Drill) Rigged? - Mercedes-Benz Forum

 
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post #1 of 3 (permalink) Old 08-23-2008, 04:33 PM Thread Starter
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Are (Drill) Oil (Drill) Prices (Drill) Rigged?

We've all read that speculators are driving oil prices artificially high — a claim that gets more interesting in light of oil's recent fall below $115. But maybe we're looking at it from the wrong perspective. Suppose that major suppliers in the oil industry are these manipulative speculators.

Is it possible that oil prices are rigged? You bet. Here's how:

Just how would you raise prices if you were an oil supplier? Controlling the supply — as in the 1973 OPEC embargo — has become less effective with more sources of oil worldwide. And oil suppliers clearly cannot raise prices by controlling demand in the physical oil market; ultimately, they need to sell their oil, not buy it. However, with the market inefficiencies that we expose here, oil suppliers can regain the upper hand by artificially inflating demand using a different market. To understand this mechanism, we must take a glimpse into the future — the futures market, that is.




Are Oil Prices Rigged? - TIME
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post #2 of 3 (permalink) Old 08-23-2008, 06:10 PM
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post #3 of 3 (permalink) Old 08-23-2008, 11:38 PM
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