Unsound fallacies on the Price of Oil

Michael Levy

July 13, 2006

The reasons given for the new spike in oil price of over $76.00 was given on CNBC at 2.15 pm on Thursday 13 July.

1/ Unrest in the Middle East .... This is not a true reason for the price increase, as there was worse trouble in the Middle East in 1999 when oil was trading at $12 a barrel

2/ Iran's Aggressive Rhetoric ... This is not a true reason for the price increase, for Iran was just as just as outspoken with their Aggressive rhetoric in 1999 when oil was trading at $12 a barrel

3/ Nigerian pipeline explosion ... The explosion will not effect the over supply of oil which the world is floating in

The Truth of the matter is there has never been a shortage of oil...Just very clever speculators who use the uninformed people in the financial media to inflate the price of oil by greedy speculators.... Remember, for every dolar on the price of a barrel of oil, every car owner contributes money to pay for more Iranian missiles.

Michael Levy

International radio host Michael Levy is the author eight inspirational books. Michael's poetry and essays now grace many web sites, newspapers, journals and magazines throughout the world. He is a prominent speaker on health maintenance, stress eradication, wealth development, authentic happiness and inspirational poetry. His new book is titled "Paradise Grace's A Simple Mind."
Websites:
http://www.pointoflife.com
http://www.blogtalkradio.com/pointoflife

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