Did speculators raise the price of oil just to get off shore drilling

Don't think so, an increase in supply would lower the price, the opposite of what they're trying to achieve.Did speculators raise the price of oil just to get off shore drilling
No. They did not raise the price to get off shore drilling. Where there is a speculator speculating the price of oil will go higher there is a also a speculator speculating the price will go down. The speculation price goes up when more speculators feel the price will go up then feel it will go down.





Now, why do they think the price will go up? Because demand world wide is going up. While the US is use slightly less oil, countries like China and India are using exponentially more than they did in the past.





Why is the price of the barrel of oil going down? Because there is a real good chance the US with Bush's lead and pressure on democrats from the majority of the American people to allow more domestic oil drilling. Thus, threatening to add more oil to the world wide supply.





More supply, lower price.Did speculators raise the price of oil just to get off shore drilling
ahhh, heck no...off shore drilling actually will make speculators lose money because if off shore drilling is approved i say again if then it sends the expectation there will be more supply on the market and economics 101 says with more supply there is less demand. less demand for oil = lower prices which is bad for speculators because they will lose money unless they start shorting the market.





basically this question is irrelevant because speculators are actually good for the market and has nothing to do with manipulating the price of oil or the decision for off shore drilling. SOME small contigent believe speculators are the reason why oil is so high blah blah but they are just uneducated on this subject and dont know how the commodity futures markets work. Oil WAS (oil is currently down over the past weeks) at record high for two reasons: DECREASED AMERICAN DOLLAR CURRENY (OIL IS PRICED IN DOLLARS) %26amp; THE GROWING TERROR PREMIUM ON OIL WHICH MEANS EVERYTIME SOME IDIOT IN NIGERIA SABOTAGES THE OIL PIPELINE OIL GOES UP A FEW BUCKS





BILLY MAYS: OPEC doesnt set the price on oil- oil is traded globally and the real time market sets the prices which change every second unless your in the spot market





Col Kurts- If anyone could have predicted that-there would be many over night billionaires including myself as an investor/speculator in oil. No one knows when oil is going to go up or down exactly, thats the same thing as saying you know when google stock will soar or crash
Listen........oil is a world commodity. The United States does not control oil prices!!!! You are saying that speculators from all over the world are raising oil prices so that America can drill more oil???? The problem is that drilling is happening everywhere else EXCEPT the United States. We are screwing ourselves.
Yes, Virginia, it is a big conspiracy. Of course they all have investments in big oil. Duh.





Jeez, if people only had a decent education in this country.
That would be good to know. Then we'd know it went for good cause!


Congress keeps blocking oil drilling. We need to do it! Besides China will if we don't! While we work on other things too!
well considering the price of oil is dropping and they have'nt got it yet the answer is NO.
No they did it for the PROFITS..... THEN they sold SHORT for more profits off the Last ones in.........
No. speculators are only in it for the immediate money.
No. They speculate that we will not drill there by driving up the prices.
No, they did this to help their own pockets.
No. OPEC raised the price of oil to get more money.
funny.
Maybe. They just want more and more profits.
No.
MMMmmmmm.... could be!
no that would be counter productive to what they are trying to do