"SR20GOER" wrote in message
...

"Matt Barrow" wrote in message
...

"SR20GOER" wrote in message
...

Two, there is now more known oil in the world than there has ever
been
in
the history of mankind.

Quite...and right now, a surplus is being generated. Where the
surplus
is
going is into storage and reserves.


Funny you say that. Here in Oz the Arabs always seem to raise their
oil
prices just in time for school holidays, holiday weekends, and so on.
Some
would suggest profiteering by the oil companies but our Government
watchdog
can never find proof, as the Govt creams a fortune in taxes on the fuel
sales.

You need to read up a bit on how oil trades on the world markets.


I have some idea of how oil trades but there comes a time when the
constant
coincidence of the price rise occurring to coincide with large parts of
the
population going travelling by vehicle streatches beyond the realms of
probability or 3 sigma if you prefer. The current diesel price, given it
is
cracked out early in the process, is even more laughable.

Right now (actually the past couple years), the biggest jump in fuel use is
industrial applications in China and India.

Also, at this time, more oil is being produced than is being consumed,
mainly going into strategic reserves.