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Gasoline demand down 3% in May

tgdaily.com — No surprise here, but I found especially interesting that they point the fingers to Wall Street. Has anyone ever thought about investigating whether those Goldman Sachs analysts predicting new record oil prices actually benefit from their predictions and the subsequent rise in prices? And if they do, shouldn't that be illegal?

Who dugg this?

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  • inactive, on 07/03/2008, -0/+4Speculators account for at least 50% of the price that we pay now. Without them, oil might be at $70-$80 per barrel.
  • maxjames007, on 07/05/2008, -0/+1Very interesting!!

    J
  • brad3378, on 07/05/2008, -0/+1If what you're saying is true, then you could make a killing by investing in oil refining stocks such as Valero & Tesaro if/when oil prices drop back down. They're feeling the pinch of high input costs of their purchased oil and (believe it or not) the "low" cost of gasoline.

    Here are their stock symbols:
    http://finance.google.com/finance?q=NYSE:VLO
    http://finance.google.com/finance?q=NYSE:TSO

    By the way - where did you read that 50% of the cost of oil is due to investing in futures?
    I need to know so I can make more informed investment decisions. The DOW has dropped nearly 2000 points in the past 6 weeks and if energy costs drop back down we could see a major opportunity investing in Airline stocks and Auto industry stocks.

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