Post #621352

"World oil prices are not determined by fundamental physical supplies of, and demands for, actual petroleum. The leading benchmarks are set in highly volatile financial forums, called ‘futures markets’, in which the vast majority of participants have no intention of ever buying or using physical oil.. liquidity, expectations, and fears are far more important in shaping price movements than real economic fundamentals (like cost, productivity, and growth).. the supply of physical oil is also corrupted by cartel behaviour, geopolitics, and monopoly power.. the price signals emanating from financialized, speculative global casinos should not be accepted as rational indicators of efficient market forces. And the costs and damage done to economies and living standards by those processes should never be accepted as natural, inevitable, or efficient." https://cdn.prod.website-files.com/679d4ed301fa26e771ccafaa/68e7f6f5455ed72dca79079d_FalseProfits-March2025-Counting%20the%20Costs.pdf