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Old 01-12-2009, 10:49 AM
 
3,292 posts, read 4,466,178 times
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Quote:
Originally Posted by NewToCA View Post
If this were a new process I could see the point here, however this investment strategy has existed for decades. Why the specific sudden jolt in pricing due to a previously existing process?
This would be an educated guess, but when investors started finding out their safe investment (home mortgages and such) were incredibly unsafe, they all moved their money into the other safe investment (oil).
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Old 01-12-2009, 12:29 PM
 
11,944 posts, read 14,753,655 times
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None of what I've said the past year is real until 60 min. says so.

Newtocal- what changed? When did value/ material basis measures go by the wayside? How many key pieces of legislation had to get passed prior to Enrons business plan? Illusionists thrive in abstract climates.
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Old 01-12-2009, 12:51 PM
 
Location: Denver, Colorado U.S.A.
14,164 posts, read 27,157,142 times
Reputation: 10428
Quote:
Originally Posted by lostdestroyedlife View Post
gee what a surprise, Enron was involved in the oil scam, Enron and the Oil companies were all the biggest donators to Bush's campaign back in 2000

America has been robbed and hijacked the last 8 years, the Texas Oil Mafia succeeded in their goal of hijacking america and stuffing their pockets at the expense of the average sucker American

And the best part is all these criminals get bail out money, they **** up our country and they get rewarded, America has been hijacked by these criminals on wall street and the Texas mafia
Why do I have a feeling that the high gas prices this summer had something to do with Bush paying back the people who installed him in the Whitehouse? Now as he prepares to leave office, prices are way down. Co-eenky-dink?
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Old 01-12-2009, 12:59 PM
 
272 posts, read 407,506 times
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Quote:
Originally Posted by denverian View Post
Why do I have a feeling that the high gas prices this summer had something to do with Bush paying back the people who installed him in the Whitehouse? Now as he prepares to leave office, prices are way down. Co-eenky-dink?

of course not, and I wonder what went on at these secret energy task force meetings Energy Task Force - Wikipedia, the free encyclopedia Document Says Oil Chiefs Met With Cheney Task Force, oh well at least some people made alot of money, who cares if millions had to suffer as a result
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Old 01-14-2009, 06:36 PM
 
Location: Santa Monica
4,714 posts, read 8,449,601 times
Reputation: 1052
Default News, More reasons to think oil price runup was speculative activity

Did Speculation Fuel Oil Price Swings?, 60 Minutes: Speculation Affected Oil Price Swings More Than Supply And Demand - CBS News

The feds don't regulate the trading in this sensitive national economic resource. Whaddaya know. Goldman Sachs doesn't want to talk about it. Whaddaya know. Mess up the economy in the meantime. Whaddaya know. Just like Enron's traders gamed the interstate electricity markets. Whaddaya know.

You just went through 8 years of COWBOY CAPITALISM. Hope you made yours.
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Old 01-14-2009, 08:14 PM
 
4,246 posts, read 12,001,111 times
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I'm still wondering why gas is almost 2 bux here and the price of oil is under 50 bux. Yet when it was 3x that for a barrel it was 2x that for a gallon at 4 bux. Oh that's right these companies are holding it in tanks by cutting off the supply. And that's the truth.

50 barrel = 2/gal
150 barrel = 4/gal


something doesn't add up.
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Old 01-14-2009, 08:22 PM
 
Location: Charleston, WV
3,106 posts, read 7,361,624 times
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More discussion at http://www.city-data.com/forum/polit...ve-up-oil.html

We've been discussing this same link.
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Old 01-14-2009, 08:23 PM
 
26,161 posts, read 48,867,893 times
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Both years that Bush ran (2000 and 2004), there were HUGE run-ups in gasoline prices; I know, I have purchase records for 35 years. The prices ran up again this year. It's a gimmick to make sure that every filling station owner in the country has a ton of money to finance candidates at all levels. This year was no exception, they pulled the scam again. Proof? Look at the prices paid!

Back in the summer of 2008, even the Bush administration told us that about 40% of the price of that $140/bbl oil was speculation. Plain and simple. BTW, the same piece of legislation that allowed Enron to speculate / manipulate is the same piece of legislation that allows Goldman Sachs and Morgan Stanley to play the oil biz. That piece of legislation is called the Enron Loophole and if anyone wants to read more, use the search tool on City Data or google it.

Then-Senator Phil Gramm (of TX, where else) and his wife (an Enron lobbyist) wrote that loophole and snuck it in at the last days of the Clinton administration. The rest is history. Who was McCain's economic advisor this past summer, Phil Gramm, who McCain later fired when that fact became public knowledge.

We've been ripped off by the Bush crowd for trillions of dollars.
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Old 01-14-2009, 08:27 PM
 
4,988 posts, read 9,986,978 times
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Quote:
Originally Posted by ParkTwain View Post
Did Speculation Fuel Oil Price Swings?, 60 Minutes: Speculation Affected Oil Price Swings More Than Supply And Demand - CBS News

The feds don't regulate the trading in this sensitive national economic resource. Whaddaya know. Goldman Sachs doesn't want to talk about it. Whaddaya know. Mess up the economy in the meantime. Whaddaya know. Just like Enron's traders gamed the interstate electricity markets. Whaddaya know.

You just went through 8 years of COWBOY CAPITALISM. Hope you made yours.
Gee, seems like Oil company execs have been saying this for years, even sating it under oath at all of those phoney-baloney Congressional Hearings called by the blowhards in DC to put on a show for the mind-numbed masses on the other end of the boob-tube. But all of the talking heads kept pointing their fingers at "BIG OIL" as the Boogey Man and that only Government (i.e. the Democrats and the Messiah) could save us. Couldn't be they were lying just to win an election. NAH!
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Old 01-14-2009, 08:30 PM
 
Location: Charleston, WV
3,106 posts, read 7,361,624 times
Reputation: 845
So when the Feds started investigating, investor money scurried out of the index funds. I'm not an investment guru, but seems to me that would translate into losses for someone?????

Quote:
In a five year period, Masters said the amount of money institutional investors, hedge funds, and the big Wall Street banks had placed in the commodities markets went from $13 billion to $300 billion. Did Speculation Fuel Oil Price Swings?, 60 Minutes: Speculation Affected Oil Price Swings More Than Supply And Demand - CBS News
and
Quote:
"From July 15th until the end of November, roughly $70 billion came out of commodities futures from these index funds," Masters explained. Did Speculation Fuel Oil Price Swings?, 60 Minutes: Speculation Affected Oil Price Swings More Than Supply And Demand - CBS News
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