Shell CEO says record oil not due to shortage

Shell CEO says record oil not due to shortage

uk.reuters.com

LONDON (Reuters) - Oil prices at a record high above $135 a barrel are rising due to market sentiment rather than a shortage of supply, Royal Dutch Shell's chief executive said on Thursday.

U.S. crude oil hit an all-time peak on Thursday, climbing to $135.09, lifted by concern about long-term supply and a host of predictions of further rises from influential investment banks and investors.

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Basically, in a nut shell, what is happening is this:

The American Empire, watching the OPEC raising it price of oil and thus watching the profit they are making while they themselves (his majesty Bush and his mob) are not, decided on following course. Invisibly tax the living # out of their subjects. For every dollar OPEC makes in sales, his majesty’s mob adds on two for processing, transport, sales, delivery overhead. Like this, both OPEC and his royal mob milk the consumers as much as they can get away with and, both are happy. Exxon, Mobil, Shell, and the rest of the Western companies and their employees are living in ecstasy. Thus, the american mob is ensuring that for every x amount of American subjects money flowing to OPEC, a 2x amount flows into the mob’s pockets. This formula keeps OPEC happy, the Americans and their Chinese partners happy (note the recent theatrics between Bush and the Saudi King), and the rest of his American majesty’s subject paying for everyone else’s happiness. That’s a very effective way of milking the cow. And who are really paying for all this throughout the empire?

uk.reuters.com
(visit the link for the full news article)

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