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Old 08-30-2011, 12:33 PM
 
199 posts, read 262,293 times
Reputation: 143

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I would love to see oil "crash." A fall of about 50% might teach some greedy speculators a lesson and oil would still be much higher than justified by supply and demand. Regulating the market for oil futures and getting oil prices in line with supply/demand is the single most important thing that could be done to put us on the road to economic growth and recovery. Sadly, the Big Banks are some of the biggest oil speculators and Obama is not about to touch them -- he's in their pockets big time!

Trading commodities needs to be regulated. This cowboy free for all only benefits the stock traders who do not create jobs, but just move money around. Most cases, the money they move is out of poor folks 401K into the pockets of the greedy.

There is no reason for Oil to be going up... especially right now.
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Old 08-30-2011, 01:05 PM
 
19,337 posts, read 16,925,880 times
Reputation: 7515
Quote:
Originally Posted by Peerless View Post
I would love to see oil "crash." A fall of about 50% might teach some greedy speculators a lesson and oil would still be much higher than justified by supply and demand. Regulating the market for oil futures and getting oil prices in line with supply/demand is the single most important thing that could be done to put us on the road to economic growth and recovery. Sadly, the Big Banks are some of the biggest oil speculators and Obama is not about to touch them -- he's in their pockets big time!

Trading commodities needs to be regulated. This cowboy free for all only benefits the stock traders who do not create jobs, but just move money around. Most cases, the money they move is out of poor folks 401K into the pockets of the greedy.

There is no reason for Oil to be going up... especially right now.

Blame da guberment who encouraged housing speculation which inspired the debasement of the currency and turned oil into an inflation hedge.

I know someone else to blame too. However, I would like to go easier on the one's that notice me, the rare and odd pedestrian, in the cross walk.
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Old 08-30-2011, 06:04 PM
 
Location: Here.
15,454 posts, read 14,009,315 times
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I would love to see oil prices kept at sustained high levels (through higher taxes if not supply and demand). This will encourage conservation (it is a finite resource) and reduce our dependency on foreign oil. And it just might break our obsession with buying SUVs to protect ourselves from people who buy SUVs.
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Old 08-30-2011, 08:58 PM
 
199 posts, read 262,293 times
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Quote:
Originally Posted by Retroit View Post
I would love to see oil prices kept at sustained high levels (through higher taxes if not supply and demand). This will encourage conservation (it is a finite resource) and reduce our dependency on foreign oil. And it just might break our obsession with buying SUVs to protect ourselves from people who buy SUVs.
Unfortunately for your love, oil prices are going higher not through taxes, and not through supply and demand.
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Old 08-30-2011, 10:27 PM
 
Location: The North
5,575 posts, read 9,853,647 times
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Don't be silly. If oil prices went down 50% the same "speculators" you blame for high prices now would make a killing on the fall in oil prices. This isn't stocks you are talking about, its commodities and its just as easy to bet on a fall in prices as an increase in prices.
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Old 08-30-2011, 11:20 PM
 
Location: Conejo Valley, CA
12,470 posts, read 18,185,659 times
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Quote:
Originally Posted by Willy702 View Post
This isn't stocks you are talking about, its commodities and its just as easy to bet on a fall in prices as an increase in prices.
Umm....its just as easy to short a stock as it is to go long.
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Old 08-30-2011, 11:24 PM
 
Location: Conejo Valley, CA
12,470 posts, read 18,185,659 times
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Quote:
Originally Posted by Peerless View Post
There is no reason for Oil to be going up... especially right now.
Of course there is, you just have to remove the American-centric goggles.

Global production is increasing and as a result global demand for oil is increasing at time when global supplies are weakening.
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Old 08-31-2011, 05:59 AM
 
12,869 posts, read 13,676,562 times
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i saw something on russia today that aggravated me regarding exxon mobil. they are engaging in a joint venture with russia, with exxon footing most of the bill:

Exxon to shoulder most of costs of Rosneft pact | Reuters (this article is from reuters)

in the meantime, a BP artic exploration deal fell through:

The Moscow headquarters of the oil giant BP was searched by bailiffs on Wednesday in the wake of a US $ 3 billion lawsuit by a minority shareholder related to the failure of its Arctic exploration scheme. No documents were seized and the situation in the office is described as “calm”, with managers co-operating with bailiffs. Andrei Prokhorov, a minority shareholder in BP's Russian venture, TNK-BP, is suing the British oil giant for allowing an Arctic exploration deal with Rosneft to fall through. He says his interests were harmed as TNK-BP could have benefited from becoming part of the deal

two things come to mind-
no more tax breaks for american companies which use their production money to expand in foreign countries.

more effort needs to be pushed into natural gas development (and coal) so americans have more choices and are not held energy captive. you can see when the government gets involved, that they decide who the winners and losers are, which probably isn't going to benefit us in the globalism push agenda.
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Old 08-31-2011, 06:06 AM
 
12,869 posts, read 13,676,562 times
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for the record, except for government intervention, natural gas conversion wouldn't be that expensive for those who wanted to do it:

Natural Gas Conversions Could Cost a Couple Hundred – Gas 2.0



CNG conversion costs are only high because of an old EPA licensing requirement, says Marc Raush:

“For an individual (or shop) to be licensed to do a conversion, the person must pay $10,000 per year, per engine type, per year of manufacture. So that if a conversion shop wanted to do conversions in 2009 for Camrys for the years 1995 to 2005, the shop owner would have to pay the government $100,000 in licensing fees. “

Source: Gas 2.0 (http://s.tt/12zBo)


take that away, and it can be done for a few hundred dollars.

energy independence should be the goal.
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Old 08-31-2011, 05:11 PM
 
5,409 posts, read 10,327,305 times
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Quote:
Originally Posted by floridasandy View Post
for the record, except for government intervention, natural gas conversion wouldn't be that expensive for those who wanted to do it:

Natural Gas Conversions Could Cost a Couple Hundred – Gas 2.0



CNG conversion costs are only high because of an old EPA licensing requirement, says Marc Raush:

“For an individual (or shop) to be licensed to do a conversion, the person must pay $10,000 per year, per engine type, per year of manufacture. So that if a conversion shop wanted to do conversions in 2009 for Camrys for the years 1995 to 2005, the shop owner would have to pay the government $100,000 in licensing fees. “

Source: Gas 2.0 (Natural Gas Conversions Could Cost a Couple Hundred – Gas 2.0)


take that away, and it can be done for a few hundred dollars.

energy independence should be the goal.
Any idea if this is actually true?

Not saying it is not. I do not know.

I looked at other "stories" on the site, which clearly were not.
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