Originally Posted by wa8yxm
Answer.. Oil company GREED.
The facts don't seem to have much effect, but I'll try again. HERE
are the market energy prices from the various energy commodity markets - NYMEX, in particular (that you'll see on this link) is the New York Merchantile Exchange. This is where commodity traders buy and sell energy future contracts.
I'm still wondering why you think the oil companies (if they set oil prices, as you contend) allowed the price of crude oil to drop from $150+/bbl to $30+/bbl during the recent recession. Why didn't they keep it at $150/bbl and rake in all they could? Why isn't crude oil $150/bbl today?