BIG OIL, SPECULATION, AND ELECTIONS

After watching elections for many years, I am convinced that the oil industry tries to affect elections in the US and other democracies.

Many disgruntled voters will vote against the incumbent if they feel they are paying too much for their fuel.

At the moment, gas prices are being artificially inflated by speculation. Not content with ruining the housing market, the speculators have been playing with the price of oil. The excuse is the war in Libya, but that war has not actually affected the oil supply much. (Fear and greed are SUCH a useful things. Fear and greed can be used to fuel speculation in almost anything.)

So a large group of oil importers have gotten together and agreed to release a small portion of the oil they keep for emergencies. They said they would do it again if they had to.

The speculation in the oil market stopped immediately.

Golly, gee. Imagine that.