In a warn statement, Exxon Mobil CEO Rex Tillerson told a Senate Finance Committee that oil prices did not now simulate supply and demand. “When we demeanour during it, it’s going to be somewhere in a $60 to $70 operation if we said: ‘If we had entrance to a subsequent commercial barrel, what would it cost?’”
Since a cost of oil barrels is now over $100, it is transparent that something over a laws of supply and direct is pushing a high cost of oil, and with it, a high cost of gasoline. Well, if it isn’t supply or direct that is pushing a cost of oil adult so high, there’s unequivocally usually one other culprit: oil speculators.
(To see how to distinction with Benzinga’s Value Investor, click here.)
What, exactly, are oil speculators? They are amicable parasites, gamblers who furnish positively zero of value.