I ripped this right out of an oil industry news site. Will delete on demand. Hedge funds became the most bullish on U.S. crude oil in more than five months as a new pipeline from Oklahoma to Gulf Coast refineries eased a supply bottleneck, driving prices above $100 a barrel.
That is about the XL pipeline, the south part was just finished, it's just the north half that the current fight is over. Exactly as predicted by environmental and consumer groups, price went up when we could move more oil. And the crap they put in the north end will just pass through, be refined in Texas where we get the pet coke dust and the pollution and the fuel is for export. It will not help the US one single drop, it is a scam to claim it will increase our security.
Same with natural gas. We are now the largest producer in the world of natural gas thanks to fracking, and the prices are at a 4 year high. Supply and demand rules are dead, speculators and mega corps set the price, and sucker people into thinking more wells help.