Tuesday, September 16, 2008

Wall (street) Falls - Oil Drops


Oil Prices Drop by almost 40%
But Heating Oil Prices aren't Dropping

If you still use oil for home heating – and 90% of you still do, think about the following.

Oil Prices have dropped 40% since June

Crude oil prices have dropped by almost 40% from the mid-summer high of $147 to the current (as I write) $91 a barrel. Yet the price of home heating oil stays unchanged at a very high €818 per 1000 litres.

The price of oil at the pumps has not come down by the appropriate amount either, but at least they have dropped somewhat.

The Power of One

Hang-on in there – DO NOT BUY YOUR WINTER HEATING OIL YET until the oil robbers (traders and corporations) adjust their prices.

If everyone refused to buy his or her heating oil right now, it would not be long till the price was corrected. Price inflation and gouging depends on people’s willingness to buy. The housing bubble was built only on this single principle. Now thankfully that bubble is starting to burst.

Have our Governments got any balls?

I would love to know who is raking in the 40% killing on the price of oil? I would also like to know why governments and international agencies are not taking action to stop speculation and gouging in what still remains an essential commodity.

The Fall of the House of Usher?

What a crooked world – the world of speculators. What a bunch of "bankers" – but it looks as if their own deceptions and bad practices are starting to catch up with them.

And the Wall Street came tumbling down – again!!


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