Quote:
Originally Posted by ninjaowen
you think this is also a result of the economic slump?
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Given that fuel is once again increasing while the economy is still faultering, I think not.
In the area I live the economy has been stagnant for at least 6 years, the incomes and wages of middle and lower classes have not kept pace with inflation.
My folks own a small business and demand throughout the 2000's was stagnant as was the sales of most everyone they knew with a small business. (this all seemed to start right on 9/11 that sales dropped and stayed there)
Also we were already in an economic slump in 2007, sales across the board were either down or profit was down (I'm talking retail/wholesale products not oil or commodities)
So we went through the 2008 high fuel prices in a slumping economy with reduced demand and increased supply of oil
UPDATE: US Rep Says Probe Uncovers Oil Market Manipulation
frontline: dot con: press reaction | PBS
CNBC talking about Morgan Stanley and other banks putting oil in tankers. - Democratic Underground
Three traders charged with oil market manipulation - USATODAY.com
Gas prices going up despite low demand | NBC-WKTV News Channel 2 | Local News
What causes $4.00 per gallon gas? Fuel prices and the environment and economy | Earthascope
Regulator investigates 'market manipulation' by jet fuel speculators - Business News, Business - The Independent
Airline Pilot Central Forums
Yet strangely Decreased demand does not lower or affect oil prices?
Even now there is hoarding going on and the price is creeping back up.