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The oil price you see online is what’s called the futures market. It’s paper trading. The physical price—what refiners actually pay for the actual barrels of oil being delivered today—just hit $141. That’s a $32 gap. The Chevron CEO has even said that the futures market is based on a perception and just a little bit of information.The last time the physical price was this high was back in 2008 after Bush’s incompetence sent us into the Great Recession.You’re watching the wrong numbers.
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