Wizz
06-29-2006, 11:47 AM
Now its all comming out on why OIL PRICES are so high.
WASHINGTON - Detailed allegations by federal investigators that BP traders illegally manipulated propane prices in 2004 could hurt the oil and gas industry’s image at a time when consumers and Congress are upset about soaring energy costs and record profits.
Executives from BP PLC and other major oil companies have testified before Congress and stressed in TV interviews that today’s sky-high prices for gasoline and other fuels are the result of market forces beyond their control — not improper behavior on the part of industry.
“Well, that’s going to be a tough sell when you have headlines showing that they caught you manipulating the market,” said Phil Flynn of Chicago-based Alaron Trading Corp.
Full story here:
http://www.msnbc.msn.com/id/13608828/
All credits goes to MSNBC and all affiliated with this story.
Now on my take. I have always known that there wasnt something right on how oil prices can double and sometimes go higher than that in 1 years time. All of them are crooks and it starts with our very on goverment who has done nothing but cover their arses on this issue.
WASHINGTON - Detailed allegations by federal investigators that BP traders illegally manipulated propane prices in 2004 could hurt the oil and gas industry’s image at a time when consumers and Congress are upset about soaring energy costs and record profits.
Executives from BP PLC and other major oil companies have testified before Congress and stressed in TV interviews that today’s sky-high prices for gasoline and other fuels are the result of market forces beyond their control — not improper behavior on the part of industry.
“Well, that’s going to be a tough sell when you have headlines showing that they caught you manipulating the market,” said Phil Flynn of Chicago-based Alaron Trading Corp.
Full story here:
http://www.msnbc.msn.com/id/13608828/
All credits goes to MSNBC and all affiliated with this story.
Now on my take. I have always known that there wasnt something right on how oil prices can double and sometimes go higher than that in 1 years time. All of them are crooks and it starts with our very on goverment who has done nothing but cover their arses on this issue.