Submitted by ejf, Oct 30, 2007 17:33

Everytime there is a report of a pending or percieved threat oil prices go up. What we have is oil traders speculating on unkowns and hedging the market with fear of disruption.

We saw this with Pre-Iraq invasion, no disruption to oil production or shipment, Post Katrina - Gulf oil platfrorms operational in 1 yr. everytime an arab nations sneezes, the oil traders drive up the price on fear.

At the same time, consumers have not reduced demand of gasoline. We still see drivers of SUV & 3/4 ton trucks speeding away at 75-80 mph. Price is not a factor for the US consumer, as they continue to speed and spend disposable income on gas.

What truly needs to happen is for the US to take out the Iranian oil facilities and allow the free market to adjust to the supply and deman with out Iranian oil. Iran needs the oil funds to fund it's economy and terrrorist network. Shut down the Iranian oil facilities and you will see the oil market react to demand and not speculation.

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