<p>A big part of the jump is massive speculation. It will end sooner than later.</p>
<p>[Lehman</a> warns that oil boom will deflate - Telegraph](<a href=“http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/04/24/cnoil124.xml]Lehman”>http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/04/24/cnoil124.xml)</p>
<p>That’s what I’ve been reading as well. There is no logical reasoning for the increase in prices. We’ll see how it shakes out.</p>
<p>There is speculation and there is speculation. The major oil companies are speculating that prices will be higher in a year or two than they are today, so the incentive is to keep the oil in the ground, and not drill on the leases they already have.</p>
<p>Thanks for the daily conspiracy theory.</p>
<p>There is a touching essay online somewhere about a pregnant woman crying as she observed all the paper diapers in a store and the trees needed to be cut down to make those.</p>
<p>What is more important? Our hate for corporations, or doing the environmentally correct thing?</p>
<p>The balance in-between…</p>
<p>There is a position report from the Chairman of ExxonMobil. He is currently being slammed by heirs of JDR for not doing enough. </p>
<p>Offhand, I think the speculators have come to the conclusion that fossil fuels is or will peak, that carbon based fuels are more valuable doing something else than burning to make heat to generate electricity or mobility, that global warming is a concern that needs to be addressed and that a prudent speculator is better to hedge on the side of scarcity and collapse rather than abundance and unlimited growth. </p>
<p>Sometime we need to make changes, even W knows this. The question is whether the change should be now or later. Everything changes. Everything.</p>
<p>“Thanks for the daily conspiracy theory.”</p>
<p>Just basic corporate socialist economics. Nothing hidden or conspiratorial about it. And the gov’t gives 'em tax breaks to keep the oil where it is.</p>
<p>Most agree that the current price spike from $80 to $130+ is far more speculation that supply driven. The notion that holding oil is a big part of it is nonsense.</p>
<p>Responses to oil lease stories.</p>
<p>[Oil</a> industry draws fire for leaving leased land untapped - Jun. 23, 2008](<a href=“Oil industry draws fire for leaving leased land untapped - Jun. 23, 2008”>Oil industry draws fire for leaving leased land untapped - Jun. 23, 2008)</p>