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The New DU. Reply #15: Libya is a minor producer in terms of total production
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Johnny Morales
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Sun Apr-17-11 04:37 PM
Response to Reply #14 |
| 15. Libya is a minor producer in terms of total production |
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It's oil is certainly NOT used to make gasoline, as their crude is worth far more because of its high purity.
HEDGE FUNDS are making KILLINGS buying oil cheap and selling it a few weeks or days later with each jump.
It does NOT matter how expensive it gets, because they are driving the price not demand.
As long as they can sell it to each other at a little bit higher price every few weeks, what we pay will go higher and higher.
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