Originally posted by Zoom Zoom Diva:
It's not the oil companies that are profiteering off this, it's the crude oil producers who spend far less than $70 a barrel extracting and delivering crude and the paranoid commodities traders who are screming Chicken Little and are bidding up the price of oil without reason.

Paranoia also exists within both stock and bond analysis of Ford.



I agree on both counts, particularly the second as I'm a pretty heavy investor in FoMoCo.

$70 oil is the problem. Not 24 cents in profit. It's $70 oil that will effect the economy not a few pennies tacked on at the end.

But since there's nothing we can do about $70 oil, people senselessly direct their ire at those few pennies, even tough they're only targetting a very small percentage of the overall price.

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