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It's not what Bush did (or didn't) that amuses me. Sell your car and walk to work.
no, i'd rather do something positive, like buying a ford fusion hybrid that gets over 40MPG's
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BTW love that photo of you and the guy that stole the election in Minnesota.
off topic, by stolen, you mean like the SCOTUS stopping a recount and handing Bush the election? sucks to be on the short end of a recount doesn't it? sucks even more when a court won't even let a recount happen.
There has been some media buzz recently about the role of oil speculators in pushing up the cost of oil and gasoline again since it's recent fall. It seems like every time there is a feeling of optimism in the business press about a economic recovery the oil speculators will push up the cost of energy.
Once there is a real economic recovery in a few years the cost of oil will shoot way up which of course will increase gasoline costs, and likely hurt our economy again.
Now that the cost of oil is moderate, is now the time to do something about oil speculators in anticipation of an eventual economic recovery? What can be done considering oil is traded all over the world?
Speculators can't affect the price of anything- this is a supply/demand imbalance as the world is reached its peak regarding oil production.
Really, why would you want that? The last time gas reach $4, the economy crashed only a few months later and put us into a severe recession that is still going on today.
The housing bubble and the Big Bank Meltdown had a little to do with that.
As for oil prices, grin and bear it, or take the bus.
In the long term, yes. But THIS (or the pricing in 2008) has everything to do with speculation.
It does NOT.. If I buy a future saying oil is going up to $5.00, then there HAS to be someone else saying its not going up to $5.00 or the transaction does not get completed..
ITS A revenue NEUTRAL transaction which doesnt push the cost ANYWHERE..
I give you $1.00 for the future contract, you receive $1.00, the amount of money in circulation is THE SAME.. The price of oil is moving up or down regardless if you or I are holding that $1.00
It does NOT.. If I buy a future saying oil is going up to $5.00, then there HAS to be someone else saying its not going up to $5.00 or the transaction does not get completed..
ITS A revenue NEUTRAL transaction which doesnt push the cost ANYWHERE..
I give you $1.00 for the future contract, you receive $1.00, the amount of money in circulation is THE SAME.. The price of oil is moving up or down regardless if you or I are holding that $1.00
Explain to me how oil speculation works. And what do you think pushed the price up in 2008 and has done so now?
World demand for a resource that is limited will push the cost og crude higher as we recover just has it droppeed with less demand.
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