When is the "Oil Bubble" going to burst?? (buy, make money)

[mikeyyc]

Originally Posted by victorianpunk

True. However, too many people think the gold-standard is the answer, which it isn't, as there is not enough gold on earth to handle the US economy. Taxing commercial dollar-to-wan(chinese currency) and commercial dollar-to-rubbie (Indian currency)

The Chinese currency is the Renminbi, valued in yuan units. Indian currency is the rupee.

I have no idea what a rubbie is, but I can make some guesses.

[sterlinggirl]

Originally Posted by jazzlover

Would the US citizenry go following off a Hitler that promised to "fix" everything for them?

The nerve.....talking about Hillary like that!

[UpperPeninsulaRon]

Originally Posted by evilnewbie

Its called "The Iraq War"... you will NEVER see low gas prices again because of Bush's and Congress's miscalculations on the Iraq war... they thought it would lower oil prices... it didn't...

Interesting opinion since the majortity of posters feel that Bush would never do anything to lower oil prices.

[Humanoid]

Unfortunately, that logic is now based on a false assumption--that the US has an option to significantly decrease imports. It doesn't--because much of those imports are now critical resources (like oil) which must be imported no matter what the cost.

Firstly, you say something incorrect and then you follow it up with more...... ugh. False assumption? oh geez. You do realize that there are other energy sources right? Even oil can be produced (as seen in this thread) by other means.

The drop in the dollar against some other currencies cannot explain away the increase in oil prices, although its certainly a contributing factor. Anyhow, the drop in the dollar is the markets speaking. People should spend a bit more time listening to the markets rather than ridiculous forecasting.

Anyhow, I should just stop reading these threads. Its worse than watching Fox news. Magically a bunch that have nothing to do with economics are experts.

[Mircea]

Originally Posted by victorianpunk

Taxing commercial dollar-to-wan(chinese currency) and commercial dollar-to-rubbie (Indian currency) however

Chinese currency is the Yuan. Indian currency is the Rupee.

[victorianpunk]

Originally Posted by cdelena

Actually a large portion of the coal mining in the US was owned by oil in the 80's but sold off to keep the companies alive when oil dropped to $10 for so long. For many years oil strategy each year was to sell assets and lay off workers... we have many fewer oil companies today.

Most coal is simply sorted, crushed, and loaded onto trains... there is no processing or refining.

Once, coal was just dumped and crushed, but with new environmental regulations and "clean coal" technology, coal today is now chemically processed.

[victorianpunk]

Originally Posted by Mircea

Chinese currency is the Yuan. Indian currency is the Rupee.

So kill me for a spelling error!

Anyhow, taxing commercial transactions between the dollar and red China's and India's currency would be a fine start to turn things around, along with using to revenue earned there in to cover a tax rebate to lower-income workers and a tax cut for manufacturers with plants in the US to help stem the flow of outsourcing...granted, some here will say "outsourcing is a great thing!" or some other Bush-esque nonsense, but usually common sense prevails in real life.

[sterlinggirl]

Originally Posted by Humanoid

Magically a bunch that have nothing to do with economics are experts.

Don't worry about it.....a bit introspection is healthy for you

[cdelena]

Originally Posted by victorianpunk

Once, coal was just dumped and crushed, but with new environmental regulations and "clean coal" technology, coal today is now chemically processed.

At the coal mine no processing is done. At a small minority of power plants some processing is done.

[Wild Style]

Originally Posted by victorianpunk

True. However, too many people think the gold-standard is the answer, which it isn't, as there is not enough gold on earth to handle the US economy. Taxing commercial dollar-to-wan(chinese currency) and commercial dollar-to-rubbie (Indian currency) however, would be a big help, as it might make companies think twice about who they want to do business with, and it would create revenue that could be set aside to give lower-income people a rebate to help them pay-off their debts and ease the credit crunch...but alas, the media is too worried about Paris Hilton and other nonsense to report on the real issues

I just posted a video from a former fed chair. You should watch it. I think the idea that the U.S. economy is to big for a gold standard isn't true personally. The reason being is, there is a ton of faux wealth which can not be supported by the US economy. The gold standard would also force some responsiblitity on the part of the fed, banks, treasury.