May 18, 2009
Prices at the pump are rising again. The oil companies always say it’s because of supply and demand.
But today there is a deep recession. The demand for oil is at a 10-year low.
Meanwhile, the supply is high. Tankers of crude are anchored offshore in fleets, waiting.
According to “supply and demand,” pump prices should be dropping like a rock.
If not, it’s because of an oversupply, all right – an oversupply of speculators!