Its Tuesday morning. Cold.

Random thought going through my mind lately: Does anyone else find it odd that oil/gas was over $100 this summer and now is less than $50 this DECEMBER? And don't give me that the economy has collapsed because most of the people on 24 financial news channels are giving that reason too. The problem with that idea is that although the price rose with the economy over the years (5 to 7 is my guess), gas shot through the roof in under two years time. It jumped 100%. From $50 to $100. Sure there are factors that does lead to price increases. Some of those probably economic but does that really justify a rise that quickly. So my main question is why did it happen?

My theories: Peak oil? Not yet. Booming economy? Wasn't that boomed? Hmmm..... I think the answer is more a combination of speculators in the "market" who were allowed to trade this precious commodity due to deregulation? AND Producers that saw what was happening and choose to do things like oh lets say - release news that they were not increasing production thereby insuring the market increased price on a perceived "reduced" supply?

Also keep in mind that those same producers are now publicly saying they don't like the price drop and are saying they will cut back on production in an effort to KEEP the price high. So they are determined to keep the price high. So OK, if the price is truly tied to the economy and we recover...that means getting used to $100 gas prices again. And some people don't think oil dependence (where ever it is sourced) is a problem for this, or any, country. That and the whole Global Warming thing.

OK enough of that. Time for work.