Oil prices...who is fixing the rate ?

Question

Oil prices...who is fixing the rate ?

Answer 1

"Investors" (read speculators). Used to be you could only buy so many futures, this limited speculation, some years ago they passed a bill (sponsored in part by Phill Gramm and other criminals) that changed that therefore it's now more profitable to buy and sell energy than it is to produce it.

Answer 2

The devaluing of the dollar and the federal reserve's policies . An the government is unwilling to do anything about it .

Answer 3

This is being done mainly by speculators and others who are manipulating the stock price.  There are many politicians in on this (Sen. Phil Gramm among many) who are making a windfall while workers are losing jobs and trying to pay for food.  Don't look for Congress or the President to do anything - many of them are bought off.  There is no shortage.

This happened back in the 70's.  We had long gas lines and rising prices. No one knew why.  Nixon was going to have an investigation, but suddenly that Watergate mess came out and Nixon was gone.  If Truman was president, he would have some people locked up for this.  Reagan would stop this foolishness too.

Answer 4

speculators onthe world market.

Answer 5

Nobody is fixing it. It is a variable like the price of any other commodity. Who is fixing the price of copper or corn?