Why did fat cat oil execs and other evil speculators stop fixing oil prices and give consumers a break?
Saturday, October 4th, 2008
Did You Get That Memo? asked:
What happened? Why did those price fixing fat cats in the executive suite at Big Oil and those evil speculators buying oil futures contracts take their foot off of the neck of poor little consumers and let oil prices collapse? Surely prices haven’t come down because economies in recession use a whole lot less oil, right? Like in 1998, when oil prices collapsed together with Asian “Tiger” economies?
Eddie
What happened? Why did those price fixing fat cats in the executive suite at Big Oil and those evil speculators buying oil futures contracts take their foot off of the neck of poor little consumers and let oil prices collapse? Surely prices haven’t come down because economies in recession use a whole lot less oil, right? Like in 1998, when oil prices collapsed together with Asian “Tiger” economies?
Eddie
