33 Responses to “60 Minutes – The Price of Oil, part 1 of 2”

  1. iliketrippyshit says:

    this is why the world needs economists... speculation..ahahahahah... so like do people in america fill their cars with paper?

  2. JohnnyRock2000 says:

    Certainly it is supply and demand. The availablility of stock for sale and the demand for that stock. Speculation of and on stock values influences the price up or down. Supply and demand and speculation are the same thing.

  3. Questfortruth86 says:

    The price of oil is determined by supply and demand, it's not complicated at all. Speculators don't set prices, they take them as given, and try to determine what they will be. The price of oil, like all commodities, is determined when the bulls equal the bears. At any point, a person can be a bear or a bull, their role is not set. The speculators try to make a profit, that is, they hope they're right. Inflation caused a massive bull market in oil, and deflation, that is, recession, ended it.

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  5. SOLISDEUS says:

    Its happening again. GS once again at work...this time using taxpayer bail out money to screw us. Greed and avarice...the same scum Jesus chased from the temple whom went by a different name 2000 years ago: money changers and userers....today we call them oil speculators. During a recession and fighting two wars this kind of callous profiteering would have resulted execution if Washington, Adams, Hamilton and Monroe were still around. We lost our country to big corporations whom rape us

  6. kd5edj says:

    STFU Tree hugger

  7. xldjvista says:

    hey let's give those americans as much money as possible so they can pollute the planet!!!

  8. davidluk8 says:

    Remember the $200 oil price target call from Goldman Sachs analysts when oil price was $120-$130, That was the they started to sell their future oil contracts and built their put positions. GS was they key player in EVERY speculative bubble.

    Google "Goldman Sachs $200 oil price"

  9. unworldlything says:

    fuck obama

  10. jigglyfidda125 says:

    hey lets give those arabs as much money as possible so they can create dubai buildings!!!

  11. ribcat says:

    fuck clinton, bush, cheney.

  12. rdatl111 says:

    They provide market liquidity and accept risk which help achieve true price discovery. But if there are way way more specs than hedgers people lose faith. The CFTC does a poor job of reporting commodity s/h numbers. For example, banks that spec in crude are classified as hedgers because they truly hedge in other markets like T-Bills.

  13. jaikwillis says:

    Well Bush Jr was only one of the Republicans keeping the markets unregulated so that this kind of chaotic abuse would occur.

  14. schakos says:

    You pranksters at CBS. All this time you had us convinced it was George Bushs fault.

  15. blacksteel25 says:

    Lol Supply and Demand, more like they supply the oil, they demand the price.

  16. y2knoproblem says:

    Finally the MSM gets something right.

  17. twizatch says:

    I knew it was those pesky farmers all along.

  18. twizatch says:

    or maybe try to keep the banks (who we bailed out) from becoming oil companies.

  19. maximouni says:

    This is the rot that was going on in America.

    The bailout was a bad idea from day one.

    bailout = corruption

  20. AscentImagery says:

    oops CBS

  21. MeLikeGoFast says:

    Take some economics courses before requesting people be shot..

    Just because youre an idiot and dont understand doesnt mean others have to die.

  22. PartIrishKevo says:

    this video was from CBS, not CNN

  23. olejac says:

    I want to know who is responsibal; Enron - sure, but what about the people who is voted in to control this. Line them up and shoot them!

  24. AscentImagery says:

    thanks for being on top of this CNN. The United states citizen needs to kick these corporations in the face.

  25. EmeterioBetances says:

    Can we invest with the hedgefunds and institutions? lol Middle Class Americans should be the only ones to be allowed to invest. Not the institutions and hedgefunds who have extremely alot of money. There should be a law that allows regular citizens get into the action by having the hedgefunds and institutions report what they are investing in. Becuase it makes this huge unbalance based on economics.

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