Even Oil Executives Know Oil Prices are Too High!
Oil Industry Analysis
But this is just my analysis, let`s hear what Oil industry executives believe: Gulf Oil CEO Joe Petrowski stated that Oil prices should be about half of today’s $105 a barrel price by the end of the year. He stated the reason for this price analysis is because of increasing supplies as there are record amounts of oil and natural gas that are being produced in the United States and in Canada and OPEC supplies are higher.
What is wrong with this picture?
So we have an economy growing at 1.8% by the official GDP numbers, China just printed their lowest GDP number in five years, and Greece needs additional bailout money from the IMF. What is wrong with this picture?
Gates Capital Management's ECF Value Funds have a fantastic track record. The funds (full-name Excess Cash Flow Value Funds), which invest in an event-driven equity and credit strategy, have produced a 12.6% annualised return over the past 26 years. The funds added 7.7% overall in the second half of 2022, outperforming the 3.4% return for Read More
Speculators, Speculators, Speculators…
Who Protects Consumers from these Predatory Practices?
Political Representation has Over-riding Interests versus Consumers
It is impractical for consumers who have jobs to take time off and protest against this crap, voting doesn`t work because if you look at all the largest campaign donation lists you find the likes of J.P. Morgan, Citi, Morgan Stanley, Goldman Sachs. Talk about the fox guarding the hen house!
The Big-Pullback that Oil Companies & OPEC Fears
I think what inevitably will happen, and what insiders are preparing for in large Oil companies because they know that the fundamentals versus supplies don`t match, and they also know that they are producing far more oil than they should because of artificially high prices, that there will be a major pullback in prices whether I-Banks and Hedge Funds like it or not.
It seems Consumers & Businesses are Powerless in this scenario
Markets have become ‘Characterizations’ of Free-Market Ideals
It must be some twisted irony that the country that promotes free and equal markets has bots stealing pennies from every transaction, legal front-running via co-location and subscription data access, and energy prices standard deviations above real market forced value. All the while I-Banks routinely never have a losing trading day in a quarter.
It is pretty bad when even oil execs start shaking their heads. The Party who buys the most futures positions has all the power, and can push prices wherever they want until somebody puts their foot down and stops this nonsense!