ARE OIL PRICES MANIPULATED

[luckyleftyme2]

Are our oil prices being manipulated by the oil industry? here is an excerpt from a very interesting point of view.
What Phil sees is a giant but intricate game of market manipulation and rigging by a cartel — not just an industry — that actually has loaded tankers criss-crossing the oceans but only landing when the price is right.

“There is nothing that the conga-line of tankers between here and OPEC would like to do more than unload an extra 277 Million barrels of crude at $112.79 per barrel (Friday’s close on open contracts and price).

“But, unfortunately, as I mentioned last week, Cushing, Oklahoma (where oil is stored) is already packed to the gills with oil and can only handle 45M barrels if it started out empty so it is, very simply, physically impossible for those barrels to be delivered.

The complete piece is at: http://www.consortiumnews.com/2011/041911a.html