Is it just me, or is it every time some Wall Street "analyst" predicts a jump in oil prices, they jump?
I've started to notice this pattern over the last several months, and that's exactly what happened June 6. A "news" article on yahoo.com stated that Ole Slorer of Morgan Stanley released a report saying he expects prices could hit $150 (per barrel) by July 4. Almost instantly after the article was posted, the price of oil jumped $7 to $134 per barrel.
The reality is the true cost per barrel is lower than what the "experts" claim, and is only this high because they (Big Oil, Wall Street) manipulate the market. Do Wall Street and Big Oil really think we are so stupid that this trend would go unnoticed?
Also, why does our government continue to give Big Oil huge tax breaks on record profits while the working American struggles to make ends meet? We need to use our power as consumers to bring the big boys back down to earth, and remind them that the consumer has the power, not the producer.
We the people make or break these investors through product consumption, and personally, I feel it is time to do some breaking. So are we going to do something about this, or are we just going to sit in front of our TV and allow the rich fat cats inside the beltway and on Wall Street to dictate our quality of life?
Jeremy Martin, Missoula