Bailout Banks hoarding Crude Oil (Again)

[Toby]

Originally Posted by MeatPounder

...a good portion was a huge increase in demand due to US wasteful over consumption and huge increased demand from emerging markets...

Actually, that's not correct. During the 18 month period up to last August crude oil prices increased from about $55/barrel to over $130/barrel. During that same time period world demand actually dropped slightly while supply increased slightly.