Sunday, January 15, 2006

Why Is O'Reilly Only Moaning About Gas Prices

Fox Commentator, Bill O'Reilly likes to claim that the oil and gas mega companies are all working the system to keep prices artifically high. I don't know enough to say it isn't so. However, I would suggest O'Reilly broaden his scope.

1. Gold is almost at all time highs, as is platinum.
2. Plastic raw materials are at record highs and going higher
3. Natural gas has just dropped this week, but is at historic highs

I am more inclined to think that the guys who are gaming the oil prices are the Russians, Venezuelans, Iranians, etc. Every time the price heads south, one of these three creates a crisis to make the market skittish. Lets have an investigation into whether these three governments are meeting in smoke filled rooms to decide who will spook the market next.

And, by the way, Bill (and I like him for the most part), high oil and gas prices, over time will result in new sources coming on stream faster. That is the beauty of capitalism.

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