Isn't it funny that the price of gas has been soaring since the announcement of CAFE regulations? In effect, this will significantly reduce oil consumption, and reduce oil company profits. Will Big Oil stand for this? No! So, what do they do? They raise the price of oil now, to compensate for smaller profits in the CAFE future. What are your thoughts?

 

its not oil companies raising the price, its mostly speculators + demand.

when/if demand falls sharply, the price will drop.

 

Love the talk of "Big Oil" - most oil is produced by NATIONAL GOVERNMENTS and traded on a complex market. If you want to blame any 'big' organization, go after OPEC and speculators.