A Pricing System for Oil Sales

[american2]

Oil is a valuable commodity. To say that there should be varied pricing to disadvantaged economies is not fair. Question why that commodity is being used and how and by whom. If an economy (or individual) develops in advance of its ability to pay for what is used only correct pricing can slow its advance down to the level it can afford. Oil as a commodity has a market set price. But a nation like Thailand can build a refinery and make its distillates at a far lower cost then Australia, Japan, the U.S. or other industrialized nation. We have seen astounding price swings in energy. Everyone needs it every individual suffers/benefits its cost. Personally I will suffer the wind and rain on my scooter or public transport rather then purchase a four wheel vehicle that uses much more fuel less efficiently. Public transport for when more people or greater distances are involved. Subsidized energy for Auto fuel is a bad idea. It is a larger problem when energy (Oil) is not allowed to be maintained at a fair value. Fuel presently is being maintained by speculators at an inflated price. Even though overheated economies have lowered consumption and that has lowered the price it is still at an inflated level. My argument for that is: There are presently millions of gallons of oil being stored on Oil Tankers at sea. Producers are now decreasing production not only because demand has slowed but also because the price has become to low to satisfy them. The speculators (in this case major suppliers/producers are withholding this product from sale until the price of oil increases. The Financial Press has repeatedly advised of this and the intent to sell this oil at a higher price when it rises. Were this Oil delivered to buyers the price of this commodity would be sold at the fair level for its need. Economies would get that extra help to spur growth, employment/trade, and on and on. These are not Governments seeking to maintain strategic supply. They are greedy speculators only interested in speculating that storing this world needed commodity will bring them fortunes offsetting the storage costs on ship. I am surprised that governments are not pursuing this type of speculation.

[stilljustbrowsing]

What is the point of having millions (of any currency) if, as a result of personal greed, there is nothing left to buy?
Perhaps the meek shall inherit the earth afterall Thank you for the insight!