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Old 04-21-2011, 05:50 PM
 
Location: Planet Eaarth
8,955 posts, read 18,779,960 times
Reputation: 7193

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With gas so high there have been questions of why and why so fast. That said, politicians now want to start a dog and pony show to keep the people distracted to the real causes of this renewed oil company and speculator greed.

Don't fall for it!! Get mad and stay mad while you complain to your congressmen and senators to get off their asses and stop this with a real investigation.

High gasoline prices prompt Justice Department to eye energy industry - CNN.com
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Old 04-21-2011, 08:40 PM
 
Location: Bothell, Washington
2,800 posts, read 5,022,730 times
Reputation: 3971
I, too, am jaded into thinking the president's investigation won't really lead to anything, but at least it's a start- at least they are talking about it now. There are people leaning towards the oil companies' side of things trying to say it's ridiculous to blame this on speculators, that speculation is how it works, how it needs to work, blah blah blah. But I say that is BS- when there is no real drop in world's output/supply and it goes up 30% or whatever in just a few months there are definitely artificial factors jacking up the prices. We need to find a way to cut a lot of this speculation out of the market- let real, true supply and demand sway prices- and nothing more.

Why can't we go back to the regulations we had in the 90's, where people buying oil futures had to actually take delivery of that oil? That kept morons out who would only be in it to make money- so that only those actually buying oil were deciding the future costs- and it mostly kept oil prices very steady. Since this was done away with in 2001 we have had quite a few wild price spikes that seemed to have little real world explanation.
THAT is what I hope our politicians look into doing- but sadly I don't think any of them would have the guts to "cross" the oil companies in that way.
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Old 04-21-2011, 09:15 PM
 
2,024 posts, read 4,838,628 times
Reputation: 1996
The central bankers at the Federal Reserve are responsible for the recent run up in oil as this chart shows with the monetary base and oil on the same chart.

http://1.bp.blogspot.com/-07s0TFJeaI...ary%2Bbase.png
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Old 04-21-2011, 09:53 PM
 
Location: Great State of Texas
86,068 posts, read 76,905,739 times
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We all know once prices go up the fedgov "investigates" and they always find that there's NO manipulation of prices.

Why do they keep doing this is what I want to know..we already know the results.
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Old 04-21-2011, 09:57 PM
 
5,656 posts, read 17,985,187 times
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It has gone up 7 cents a gallon here since Monday, now $4.14 per gallon here in IL. ridiculous how it swings. The Highest it was in 2008 at $4.95.
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Old 04-22-2011, 12:45 AM
 
4,591 posts, read 3,234,112 times
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Quote:
Originally Posted by HappyTexan View Post
We all know once prices go up the fedgov "investigates" and they always find that there's NO manipulation of prices.

Why do they keep doing this is what I want to know..we already know the results.
It seems they would not have to investigate if they had a good understanding of the conditions that lead to current pricing. Yet, my totally unscientific observation is that shortly after such announcements prices start to decline.
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Old 04-22-2011, 01:26 AM
 
5,617 posts, read 9,908,237 times
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They are politicians who ultimately serve the people. The uneducated masses think there is a conspiracy behind everything and often think gas prices and the state of the economy are determined by Obama himself. So why is it shocking they do these charades? If you are a politician you are just doing your job "defending" the public even if those with half a brain know what's up.
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Old 04-22-2011, 02:14 AM
 
5,410 posts, read 10,356,488 times
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Not that hard to deal with on the personal level.

Do not buy the crap. Or at least buy less of it . . . .

Spend less time in a car and enjoy a better quality of life.
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Old 04-22-2011, 02:16 AM
 
4,591 posts, read 3,234,112 times
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Quote:
Originally Posted by Willy702 View Post
They are politicians who ultimately serve the people. The uneducated masses think there is a conspiracy behind everything and often think gas prices and the state of the economy are determined by Obama himself. So why is it shocking they do these charades? If you are a politician you are just doing your job "defending" the public even if those with half a brain know what's up.
Agreed! Now I shall go perform a ritual sacrifice to the Sun god, so it will get a little warmer.
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Old 04-22-2011, 04:01 AM
 
10,494 posts, read 24,466,427 times
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Quote:
Originally Posted by Willy702 View Post
They are politicians who ultimately serve the people.
Thanks for the laugh, but they serve the lobbyists who funded their campaigns. They do not serve the common man.
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