Quote:
Originally Posted by Unforgiven
Funny thing about diesel price though, it still remains higher than gasoline... crazy. Fueled here in Dallas at about 2.35 a couple of days ago, prices seem to be jumping around as I have seen it from 2.09 to 2.89 this week.
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Morgan Stanley owns a large fuel oil company that supplies much of the east coast in the US, another bank owns another large fuel oil company.
These two banks should be sued, it has been mentioned in passing on PBS a few times that during the time the prices of fuel were being blamed on speculators it was only 2 speculators who controlled 80% of the shares in terms of diesel and fuel oil which then also caused gasoline to increase in price as a byproduct. Isn't it funny that after 2 large banks gained large fuel oil interests that the price of diesel fuel went higher than gasoline for the 1st time in our history and then continued up to a record price even when demand was falling and supply was expanding?
Luckily for us the supply outpaced demand by such a large amount their attempts have been faultering, but now with the bailout money guess where it will probably go?