Who wants high oil prices?


	Who wants high oil prices?

willhelm

7-16-2008 2:58 PM

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/c4d38fc6-2ebd-4c70-bb5d-cead364faec3/402F63EC-0CBA-4C1A-A05F-3BDDFD5570AA/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://cafehayek.typepad.com/hayek/2008/07/carnival-of-con.html" href="http://cafehayek.typepad.com/hayek/2008/07/carnival-of-con.html" style="font-size: 11px;">cafehayek.typepad.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://cafehayek.typepad.com/hayek/2008/07/carnival-of-con.html"><P><A href="http://www.nypost.com/seven/07162008/postopinion/opedcolumnists/bipartisan_bull_120102.htm">Jonah Goldberg's column in today's <EM>New York Post</EM> is excellent</A>.  Here's a snippet:</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://cafehayek.typepad.com/hayek/2008/07/carnival-of-con.html"><BLOCKQUOTE><P>Never mind that there's no evidence "speculators" - i.e. commodity traders - are doing <EM>anything</EM>
to increase the price of oil. They aren't hoarding it; no one's
cornering the market. The speculators make money when the price goes
down, and they make money when it goes up. In short, they don't care if
oil prices are high or low as long as they guessed correctly. </P></BLOCKQUOTE>
<BLOCKQUOTE><P>That may be the most infuriating part of all this. The speculators don't want high oil prices - but Washington <EM>does</EM>. </P></BLOCKQUOTE>
<BLOCKQUOTE><P> The US government has barred billions of barrels of oil from coming
to the market by declaring huge petroleum reserves off-limits to
drilling. Uncle Sam stores vast amounts in the Strategic Petroleum
Reserve for a rainy day now called "election season." Government drives
up pump prices with gas taxes and regulations against increasing
refinery capacity.</P></BLOCKQUOTE></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/402F63EC-0CBA-4C1A-A05F-3BDDFD5570AA/blog/" title="blog or email this clip"><img src="http://content9.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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