Obama Discovers 'Magic Bullet': Speculators,Takes Aim,

[SniperFire]

 

[Syphon]

Abuse?

That really is the fundamental desire of the Dems - government control of markets.

That way, their policies can be blameless for tanked economies.

it is actually not. if people would not complain that it is the government fault that the price of gas is so high, then the government would not get involved. but the GOP currently wants to put the blame squarely on Obama's shoulders instead of simply admitting that it is the free market that has caused prices to skyrocket.

Ummmmm, irrespective of who is in office, speculation activities on any commodity will be based on policy and other influential events.

Only fools believe policy has little effect on markets.

policy does have a small affect on the market, but not enough to make the wild swings which are currently taking place.

global demand has a much higher affect on prices than anything. simply blaming Obama for not opening enough "land" to drill on is a scapegoat way to go considering oil companies are sitting on 7,200 drilling permit that they are not even using
Oil and Gas Industry Sitting on 7,200 Drilling Permits - NYTimes.com

 

[Syphon]

 

[bitterlyclingin]

so now Weasel Zippers is considered a viable news source??

[I'm terribly sorry that you didn't approve of my source. Here's the source zip referred to that he used for the article posted on his site for your perusal. I sincerely hope it mollifies your sensitivities and meets with your esteemed approval.
No one can take a seemingly innocuous news item and apply the same zeal and zest to it that zip can, that's why his site has the popularity it has, recently placed number 10 or Number 17 among Conservative sites. No one with any familiarity with past Communist Governments historical modus operandi can be the least bit surprised by this little tidbit coming out of the Obama propaganda machine. Perhaps that's why the schools and the NEA want to stop teaching any histories in the classrooms before the 1992 inauguration of William Jefferson Clinton.]

"I think the American people understand that we don’t have a silver bullet when it comes to gas prices. We’ve been talking about this for 30 years. The only way to stabilize gas prices is to reduce our dependency on fore oil and we just put out a report that over the last year or so, we’ve been able to reduce our dependence on foreign oil by a million barrels. That’s’ significant. In the meantime, cuz I know people are hurting right now and it feels like a tax out of their paychecks, what we’re doing is looking at every single area that can affect gas prices, from bottlenecks that are out there, we’ve set up a task force to look into speculation to make sure people are taking advantage of the situation on the global oil markets," President Obama told WKRC-TV."

Obama's Fix For Gas Prices: "Set Up A Task Force To Look Into Speculation" | RealClearPolitics

 

[Baruch Menachem]

Just one more demonstration of Obama's economic illiteracy. It doesn't' help that McCain is nearly that illiterate.

Speculators reduce price swings, not enhance them.

 

[Syphon]

so now Weasel Zippers is considered a viable news source??

[I'm terribly sorry that you didn't approve of my source. Here's the source zip referred to that he used for the article posted on his site for your perusal. I sincerely hope it mollifies your sensitivities and meets with your esteemed approval.
No one can take a seemingly innocuous news item and apply the same zeal and zest to it that zip can, that's why his site has the popularity it has, recently placed number 10 or Number 17 among Conservative sites. No one with any familiarity with past Communist Governments historical modus operandi can be the least bit surprised by this little tidbit coming out of the Obama propaganda machine. Perhaps that's why the schools and the NEA want to stop teaching any histories in the classrooms before the 1992 inauguration of William Jefferson Clinton.]

"I think the American people understand that we don’t have a silver bullet when it comes to gas prices. We’ve been talking about this for 30 years. The only way to stabilize gas prices is to reduce our dependency on fore oil and we just put out a report that over the last year or so, we’ve been able to reduce our dependence on foreign oil by a million barrels. That’s’ significant. In the meantime, cuz I know people are hurting right now and it feels like a tax out of their paychecks, what we’re doing is looking at every single area that can affect gas prices, from bottlenecks that are out there, we’ve set up a task force to look into speculation to make sure people are taking advantage of the situation on the global oil markets," President Obama told WKRC-TV."

Obama's Fix For Gas Prices: "Set Up A Task Force To Look Into Speculation" | RealClearPolitics

so what is your overall purpose of this thread? do you not agree with his decision to look into speculation? or are you just trying to blame Obama for high gas? if you dont agree with his decision, what is your brilliant solution?

 

[Syphon]

Just one more demonstration of Obama's economic illiteracy. It doesn't' help that McCain is nearly that illiterate.

Speculators reduce price swings, not enhance them.

speculators made reduce help reduce "swings" but that doesnt mean that they dont drive up the price when demand is slated to increase.

 

[occupied]

Just one more demonstration of Obama's economic illiteracy. It doesn't' help that McCain is nearly that illiterate.

Speculators reduce price swings, not enhance them.

That's how it's supposed to work but no longer does, commodities trading is now every bit as much of a casino as the stock market.

 

[BlindBoo]

[After stubbornly refusing to allow drilling in ANWR for years, shutting down all drilling in the Gulf following the BP Oil Spill, rejecting the Keystone XL Pipeline and sending Canadian Oil destined for the States to China instead, deflating the American currency to the point of worthlessness by years of reckless spending, the Democratic Messiah has suddenly discovered the cause of all of America's oil ills, speculators. The Democrats feel that now is the time to trot out that tried and true Socialist technique, the Show trial, in a manner that would have certainly left Uncle Joe Stalin, Nikita Kruschev, Lavrenti Beria, and Vassily Molotov proud.
The first stop for the Holder Justice Department in implementing Obama's anti speculation oil price take down will be the oil trading pits at the Nymex, followed by repeated forays into the executive suites at Exxon Mobil, Shell, Conoco Phillips, and British Petroleum. In the event Justice finds something really, terribly egregious, ie a trader buying oil contracts at $100/barrel and selling the same contracts days or weeks later at $106/barrel and making a profit at it, Eric "The black lawyer and the black criminal have more in common together than the black lawyer has with the society he is sworn to represent" Holder may even arrange for a public hanging or two of the perps just to satisfy Mr Obama's adoring throngs, keeping those fanatic ladies having their orgasms and the men fainting at Obama's speeches satieted.
The public hangings, complete with basket lunches and other refreshments available in the best "Tale Of Two Cities style, will come complete with their very own modern day Madame deFarges, knitting, although Cindy Sheehan will probably require a 10 mg Valium, po, with a possible 5mg IM haloperidol booster to keep her sitting there engaged simply with needles and yarn. Sandra Fluke, in her Madame DeFarge role, may be beyond hope of medicating to accomodate, the best recourse to finding her for a photo op will be to look for a pair of inverted sneaker bottoms attached to legs waving wildly thrust up into the air.]

"Obama’s Solution To Soaring Gas Prices: “Set Up A Task Force To Look Into Speculation”…

I’m kind of disappointed, I was hoping we’d get another czar.

Via RCP:

“I think the American people understand that we don’t have a silver bullet when it comes to gas prices. We’ve been talking about this for 30 years. The only way to stabilize gas prices is to reduce our dependency on fore oil and we just put out a report that over the last year or so, we’ve been able to reduce our dependence on foreign oil by a million barrels. That’s’ significant. In the meantime, cuz I know people are hurting right now and it feels like a tax out of their paychecks, what we’re doing is looking at every single area that can affect gas prices, from bottlenecks that are out there, we’ve set up a task force to look into speculation..."

Weasel Zippers » Blog Archive » Obama’s Solution To Soaring Gas Prices: “Set Up A Task Force To Look Into Speculation”…

Not allowing the oil companies to destroy one of our last pristine wilderness preserves has been going on long before President Obama wa elected.

The temporary moratorium on drilling in the Gulf only applied to 33 new deepwater wells and did not affect the thousands of wells already producing oil and gas.

"Feb. 28, 2011, was the date that the Interior Department approved the first permit for an oil company to drill a new well in more than 500 feet of water after it had implemented new safety rules.

In the year since then, there have been 61 permits to drill new wells in more than 500 feet of water issued by the Bureau of Ocean Energy Management, Regulation and Enforcement and its successor agency, the Bureau of Safety and Environmental Enforcement."

New deepwater drilling permits slightly off pace from before BP oil spill | NOLA.com

The seqment of the Keystone extention from Oklahoma to the Texas Gulf Coast need no federal approval. The purpose of getting it to the Texas refineriers is to use the refining capacity not to reduce prices of gasoline in the US, but to export it.

Look, the Republicans already explained who controls the oil prices.....

U.S. dependence on foreign oil has declined every year since President Obama took office.

President Obama has been actively investing in developing alternative fuels, such as algae-based biofuels that could replace up to 17% of our nation’s oil imports. Republicans are, predictably, mocking the algae research, even though they previously requested federal support for such research.