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Old 06-17-2011, 10:15 AM
 
28,461 posts, read 76,051,458 times
Reputation: 18533

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Idiot politician pandering to even dumber voters!!!

Outlaw the single most effective method of setting fair prices and the net result is to destroy exploration / investment in alternatives / foster dependency on unstable nations.

Any voter stupid enough to think this makes any sense at all should revisit other asinine government interventions in the commodities markets like ethanol price supports, tobacco subsidies and the like!
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Old 06-17-2011, 11:20 AM
 
1,403 posts, read 3,250,821 times
Reputation: 1311
Quote:
Originally Posted by Vegas Joe View Post
AIf the price of a food gets too high, I have the option of eating less of it and switching to something else. With gasoline, I have no alternatives. Even if it is $10 a gallon, I have to have it because I have to drive. There are no alternatives.
Come now...you could ride a bike, walk, take mass transit....

What you meant to say is that there are other alternatives, you just don't like any of them.
[/quote]
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Old 06-17-2011, 01:18 PM
 
Location: Wisconsin
7,214 posts, read 8,443,716 times
Reputation: 7775
Quote:
Originally Posted by broadbill View Post
Come now...you could ride a bike, walk, take mass transit....
[/quote]

For many people in some areas, there are no options like this. Try biking to work in the Midwest in the middle of winter when there is snow on the ground...
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Old 06-17-2011, 02:44 PM
 
Location: Bothell, Washington
2,800 posts, read 5,005,286 times
Reputation: 3971
Quote:
Originally Posted by chet everett View Post
Idiot politician pandering to even dumber voters!!!

Outlaw the single most effective method of setting fair prices and the net result is to destroy exploration / investment in alternatives / foster dependency on unstable nations.

Any voter stupid enough to think this makes any sense at all should revisit other asinine government interventions in the commodities markets like ethanol price supports, tobacco subsidies and the like!
I would refer back to my post from yesterday- this WAS regulated until 2001, and prices were very fair and stable. Very shortly after that regulation was stripped is when we started seeing wild swings in fuel prices!
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Old 06-17-2011, 03:07 PM
 
Location: NJ
29,529 posts, read 34,010,786 times
Reputation: 21943
Quote:
Originally Posted by jm31828 View Post
I would refer back to my post from yesterday- this WAS regulated until 2001, and prices were very fair and stable. Very shortly after that regulation was stripped is when we started seeing wild swings in fuel prices!
could you help point me in the right direction to read more about this? i googled "deregulation of oil insutry 2001" but i dont see anything that fits what you are saying.
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Old 06-17-2011, 04:18 PM
 
28,461 posts, read 76,051,458 times
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Default Makes two of us...

Quote:
Originally Posted by CaptainNJ View Post
could you help point me in the right direction to read more about this? i googled "deregulation of oil insutry 2001" but i dont see anything that fits what you are saying.
The only reference I can find to anything to do with oil trading and 2001 on specialized systems that ought to have access to any such info is the purchase of the International Petroleum Exchange (headquartered in the UK) by the International Commodity Exchange (headquartered in Atlanta). I don't believe the US regulator, CFTC, can really force the Brits to do anything...
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Old 06-17-2011, 11:54 PM
 
Location: The Brightest City On Earth
1,282 posts, read 1,717,029 times
Reputation: 580
Quote:
Originally Posted by broadbill View Post
Come now...you could ride a bike, walk, take mass transit....

What you meant to say is that there are other alternatives, you just don't like any of them.
[/quote]

Of course you are kidding. Do you know that in the summer it is at least 100 degrees here everyday? Sometimes it is over 105 degrees. Sometimes it is even 110 or 115 degrees. Do you really think people can walk, ride a bike or stand around at a bus stop here?
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Old 06-17-2011, 11:57 PM
 
Location: Brawndo-Thirst-Mutilator-Nation
18,678 posts, read 18,938,748 times
Reputation: 15663
Outlaw where????? Oh, you must mean in the USA.........it will still occur everywhere else. And all of that income and employment...............bye bye!!!!
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Old 06-18-2011, 11:10 AM
 
823 posts, read 2,048,944 times
Reputation: 424
It wasn't 2001. It was 1991 when the Government started to issues exemptions to the law allowing Goldman et al to speculate on commodities (not just oil). This was enhanced from 1994 when laws allowing trusts, pension funds and other regulated institutions to invest in commodities came about.

We should certainly stop allowing this kind of speculation in commodities (not just oil). It simply adds cost to everything we buy. It provides no service to anyone except the speculators. Of course, the Government is in the pocket of the banking interests who run this scam so nothing will ever change.

Here is a good article. A couple of years old but the points are still valid:

The $2.5 trillion global oil scam | GDS Publishing
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Old 06-18-2011, 04:32 PM
 
5,725 posts, read 9,110,176 times
Reputation: 7981
Quote:
Originally Posted by Vegas Joe View Post
A bill has been introduced to regulate oil market speculation. Others say it should be outlawed completely and that oil should be considered a "national commodity not subject to futures trading"
What do you think? I am torn myself. This goes against my free market leanings but on the other hand oil is a unique product that has huge effects on the country and its economy and perhaps needs more regulation than- let's say pork bellies or wheat.
If the price of a food gets too high, I have the option of eating less of it and switching to something else. With gasoline, I have no alternatives. Even if it is $10 a gallon, I have to have it because I have to drive. There are no alternatives.
Release: Sanders Introduces Oil Price Speculation Bill - Newsroom: U.S. Senator Bernie Sanders (Vermont)
You have MANY alternatives:

Drive less
Drive a more efficient vehicle
don't drive

Invest in Oil (LOL)


Mark my words:
SOMEONE will make MUCH money if this passes.
It's NOT 'cause they care'
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