Are Gasoline Prices Being Manipulated? A 60 day time warp--audioblogger

At the recent biodiesel open house at the Evansville High School, I listened to an elderly farmer ask Jamie Derr about whether he was at all concerned whether oil companies would move to crush any competition, as has been rumored they did in the earlier days of competition.

Click in to listen in as Jamie Derr responds.

Let us review. The price of oil has plunged since that day. We are told in the print media that in those days there was market risk and fear premium due to Hurrican Katrina as well as Iraq. Now things are better. Less fear. Fear premium was 30% of price?

On the "less fear" thing. It is nice to know that North Korea and the nuclear bomb thing is less of a fear premium than we had 60 days ago.

Recently I was in an auto dealer showroom, and three folks were talking about this issue. The auto salesman said, "Well, what do you think. Do you think that the President just calls em up and says, "I need you to put gas at $2.20."

An older man nearby interjected. "Nope. The Vice-President makes the call."

Everyone just laughed.

Why is it that on the street everyone thinks gasoline will go back to $3.25 after the election?

You make the call.