Are Oil prices affected by market Prospection more than supply and demand?

Question

I think it is true, we prospect everything, people are hired and fired by our "flawed" interpretation or analysis of anything from a hair out of place to a person's abilities based on what they look and act like on the outside....

....and so we do with the economy. I knew after The Arab dude told Bush why boosting oil supply is not the answer, that "hey, we have haven't run out of gas", and no gas stations are posting signs saying "out of gas", that it's these fricking economists spreading stupidity, or at least that's part if not MOST of the problem. DO we have a demand problem? Or a corporate greed problem?

Answer 1

We have a corporate greed problem that was created by Bush when the allowed the oil futures market to be open for the speculators much like the futures market in grain ,beef , etc. This enabled wall street and his super rich buddies to make a fortune off the oil to the detriment of the middle class and the poor that can no longer afford the gas to go to work, but have to buy it to get to work, so therefore they can't pay the rest of the bills that they owe. According to people that know, this is the single most important factor in the high prices of oil.