Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Boy, do you have it backwards! You write as if Obama really wants to make gas cheaper for the American consumer. Don't you realize that higher energy prices (energy from fossil fuels) has been the Holy Grail of environmentalists for decades? They have pined for the gas prices of Europe so that they can squeeze us all into small crapbox cars that Euros drive. That way they will save the planet.
So while Obama is on the campaign trail commiserating with the American consumer and berating oil companies and speculators they're popping the champagne corks at the EPA. In the mean time he's telling the public that the U.S. is producing more oil since he's been elected than before. What he's not telling us is that the oil now being produced here in this country was in the planning, development and production stages long before he was elected. It takes years to bring oil to the market. We're living off past exploration and development. Obama has done nothing to sustain, much less increase, the amount of oil we produce.
High gas prices will not help Obama get reelected and he knows it.
He has the tools to affect prices. Let's see if he is smart enough to use them.
Besides, it does not make sense to use our oil. We should save it for the future when it will be very valuable and in short supply.
There is no current oil shortage, and the middle east oil is a relative bargain.
As the oil drains, prices will go up high enough to force us to use alternatives.
No one needs to force the issue.
Anybody thinking drilling here will solve anything is just wrong.
Oil prices are set on the open market. What's the matter? The right NOW going to whine for MORE government interference or just another sham excuse to blame Obama for something he has no causal relationship with?
The price of oil is set by commodities exchanges based on supply and demand. Obama's intent is to make oil so expensive that it is no longer used. He has the power to open up drilling but refuses to do so.
Just take this last item: In the last two years we have accumulated national debt at a rate more than 27 times as fast as during the rest of our entire nation's history.
Bush's last budget ran through Sept 30, 2009, debt was $11.909 Trillion on that day, that is the day Obama took over budget authority
Quote:
This President will go down and the biggest bust in our nations history!
The price of oil is set by commodities exchanges based on supply and demand. Obama's intent is to make oil so expensive that it is no longer used. He has the power to open up drilling but refuses to do so.
Not quite.
It is not really a supply and demand issue as there is no oil shortage.
Oil is being used as a hedge against inflation, and the devaluation of the dollar... and of course, a fast buck.
If we make it harder for traders to speculate, their spec profits will suffer.
Taxing big oil with a windfall profit tax will dissuade Big Oil from any further manipulation of gasoline prices.
Taxing the spec money profits at the time of the instruments sale will take that money out of the equation so that it cannot be used for further speculation.
Eliminating all leverage will further decrease the amount of money available to the speculator and cut down the amount of money chasing profits.
It is a scam people, and you are paying for it.
Wake up and educate yourselves.
Last edited by oldtimer2; 04-21-2011 at 08:30 AM..
It is not really a supply and demand issue as there is no oil shortage.
Oil is being used as a hedge against inflation, and the devaluation of the dollar... and of course, a fast buck.
If we make it harder for traders to speculate, their spec profits will suffer.
Taxing big oil with a windfall profit tax will dissuade Big Oil from any further manipulation of gasoline prices.
Taking the spec money profits at the time of the instruments sale will take that money out of the equation so that it cannot be used for further speculation.
Eliminating all leverage will further decrease the amount of money available to the speculator and cut down the amount of money chasing profits.
It is a scam people, and you are paying for it.
Wake up and educate yourselves.
LOL, Chinese oil demand is off the charts. there is competition for the existing supply of oil.
By the way, speculating in oil is the way oil suppliers maintain their prices, by buying oil in the futures market. Doing away with it would do untold harm to consumers.
LOL, Chinese oil demand is off the charts. there is competition for the existing supply of oil.
By the way, speculating in oil is the way oil suppliers maintain their prices, by buying oil in the futures market. Doing away with it would do untold harm to consumers.
In theory that is close to correct.
We do not need to do away with futures.
We need to tighten up the way trades are made and eliminate margin trading.
Speculating in oil is a bad joke. Theoretically, it brings money into the game to allow a true consumer of the product to lock in future prices so as to not get caught short of needed material in any given production cycle. Theory.
We get out of equilibrium when too many dollars chase the same instruments.
Instead of the normal forces seeking balance in order to stabilize prices, we get spikes.
This destabilizes prices and puts the true consumers at the risk of ruin due to the Wall Street profiteers ability to control (and manipulate) the derivatives markets.
Last edited by oldtimer2; 04-21-2011 at 08:51 AM..
The speculation is artificial. If Obama would get off his executive decision kick and lift moratoriums on offshore drilling, the futures market would sell off and we'd return to a more sane level.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
