Interesting, Jordan

So you are saying that the futures "bidders" (at the NYMX I presume) have some kind of connection to the pension funds managers. it would seem, on the surface, irrational that any pension funds would have any direct say in the setting of the price of oil. That would make me conclude that there are "under the table payments" going on, the futures bidders being the recipients. I guess that could be so.

I think that it is incorrect to believe that neither producers nor refiners have any long-term interest in having high prices BUT I also think that the price right now is NOT in line with what those would necessarily like. I'd guess that most would happily live with $20-$30 per barrel.

Future American pensioners might appear to benefit from higher oil prices, but all that means is that they are paying extra now in order to get some of that back later.
Pension funds managers are notorious for working ONLY for more $$$ and ignoring ANY social impact of what they do. So I suppose it could well be true, though obviously MISGUIDED.

cheers


>>My guess is that, to understand this alleged crisis and learn if it really is one or not, we need to know WHO SETS THE PRICE OF OIL. by "WHO" I mean, of course, who do these people (who set the price) really work FOR? Do they work for oil companies, who actually do a whole lot of drilling/oil production? Has OPEC infiltrated the select group? WHO ARE THESE PEOPLE?
>
>Hi Jim,
>yesterday I watch an economics investigation, which state that major player in the oil price last 3 mothns are US pention funds.
>this rising of price do not reflect to the inflation and affect only on stock exchange futures, biggest traders with which are above funds.
>Nethier OPEC oil producers, nor oir refinery firms not Oil selling companies has long-run interest in rising of oil prices and they do everything possible to stick lower oil prise.
>OPEC rise the capicities of extracted crude to their max possibilities, other tried to lower production expenses, but other bigger play the games.
>American penssioners look for larger yeilds, which will let them to live happily