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Chevron Data Proves Oil Companies NOT Speculators are Driving up Oil Prices
Some poor wally over at Chevron accidentally released the company’s crude/distillate trading results for the year. An effort was made by the company to squash the information. Dow-Jones said, "the hell with that" and went public with the info.
Not surprisingly, Chevron is doing just fine in its oil trading business. They show year to date gains of a very tidy 360 million. I find it amusing that they are making such a bundle. The President said a month or so ago that he was going after the speculators who he thinks are driving up the cost of energy. Look
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Not surprisingly, Chevron is doing just fine in its oil trading business. They show year to date gains of a very tidy 360 million. I find it amusing that they are making such a bundle. The President said a month or so ago that he was going after the speculators who he thinks are driving up the cost of energy. Look
Read more...
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