You make it very clear you think they are working together.
I do, and I think that their relationship has underpinned their mutual profitability these last 10 to 12 years.
You clearly don't.
HiD:
What do you think the "real" or "fair" price of oil is?
The market price is the market price. Nothing "fair" about it.
You give lots of cogent reasons why you think the high price is justified. I've said often enough I think Peak Oil is here and now.
How that translates to price, I have no idea. If the market price is being held artificially high then it will collapse - if it isn't, it won't. I guess time - and the results of the companies - will tell.
As for your pointing to fiddling the settles on the screen markets.
The scam I blew the whistle on was seven to ten years ago: I've no idea what the games are these days. "Any economic unit can emit money. The serious problem is to get it accepted" Hyman Minsky
Agree
if it isn't, it won't.
Disagree - there are other possible reasons for a boom-bust cycle than market manipulation, or speculation. They all boil down to delayed feedback. When the capital development of a country becomes a by-product of the activities of a casino, the job is likely to be ill-done. — John M. Keynes
The oil price could collapse if demand suddenly wanes and there's a fear it won't rebound soon. Spec length flees. Hedgers rush to lock in down the curve and no one buys. We could end up in a heavily backward market as the prompt remains tight. We'll see. But in this scenario, a price drop does not make your case for you.
As you well know, I am in no position to provide any.
Sure, BP and Goldman may be just good friends.
....and I've got a bridge to sell you... "Any economic unit can emit money. The serious problem is to get it accepted" Hyman Minsky
