Wednesday, January 14, 2009

"Return with us now to those thrilling days of John D. Rockefeller"

The other day there was someone on CNN from one of those Washington think tanks talking about the past year's spike in gas prices. I don't remember his name. But he was saying that during the last two quarters of 2007 and the first two quarters of 2008, crude oil supply was UP and demand was DOWN, which should have lowered the price of gas, WHICH we all know did not happen. His explanation was simple. Middle men, read investment bankers like the crooks going down on Wall Street right now, and that began with ENRON, were buying up crude oil and gas supplies (present and future)and artificially raising the gasoline prices, thus increasing their income. This reeks of the days of yesteryear when the Rockefellers and Standard Oil did practically the same, creating monopolies that eventually were broken up but not before fortunes were made for a priveleged few.

Have you read Lee Iacocca's new book? I haven't yet either, but excerpts ensure that I will.

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