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Forget Drill baby drill. Forget about building new refineries. Forget degulations or giving the oil companies more tax breaks. All these GOP right wing talking points are just a distractions. They refuse to deal with this fact.
If you own an economy car, Oil Speculators on Wallstreet are costing you an extra $7.30 every time you fill up and $10.41 if you own an SUV.
Robert Reich (Why Republicans Aren't Mentioning the Real Cause of Rising Prices at the Gas Pump)
Waaa!!! Let me guess, Republicans won't like my source! Deal with it. Rox and Rush ain't gonna tell you this shit.
The answer is not refineries. If it were, why are the oil companies closing refineries down? No money in building refineries. I guess these free marketers want us to build them for them so they can sell our oil on the world market and still charge us $4 a gallon.
The answer is not drill baby drill. This is just a land grab. Giving our commons to the oil companies for nothing. They won't pass the savings on to us or share the profits.
And the oil companies already pay zero taxes so the answer is not more tax breaks.
And the answer is not more deregulations. Just look at the BP oil spill in the Gulf.
Are you aware of what data is used by speculators?
Got news for you.....SUPPLY...and anticipated supply.....
Jeez....dont you have the ability to think or do you simplky cut and paste?
Did we, or did we not, have a net export of oil last year?
Yeah, everybody knows that supply and demand have no effect on prices.
Be honest...the oil companies throw EVERY EXCUSE against the wall hoping that one will stick. They tell us it goes up because of the Holidays, Unrest in the Middle East (It's ALWAYS UNREST in the Middle east), because of more drivers (than a year ago?), refining the oil, finding the oil, pumping the oil, taxes on the oil...then once all of those excuses are used they say "supply and demand".
The only time anyone would invest in something they didn't see value in is if they were creating a pump and dump scam. No one can do that with the entire oil market, because it's way to big. There is no posibilty of all of the speculaors working in cohoots. The demand for oil is way too big and the investor pool is way too big.
Are you aware of what data is used by speculators?
Got news for you.....SUPPLY...and anticipated supply.....
Jeez....dont you have the ability to think or do you simplky cut and paste?
Did we, or did we not, have a net export of oil last year?
Sure did.
Are you another who just gets information, does not understand iut...but regurgitates it anyway?
Increase domestic production results in less cost per gallon of gas created during the refining process......makes exporting costs larger in comparison....and makes domestic sales more attractive.
Whatever....I am dealing with a bunch of idiots on this site.
Did we, or did we not, have a net export of oil last year?
Sure did.
Are you another who just gets information, does not understand iut...but regurgitates it anyway?
Increase domestic production results in less cost per gallon of gas created during the refining process......makes exporting costs larger in comparison....and makes domestic sales more attractive.
Whatever....I am dealing with a bunch of idiots on this site.
The fact remains that 64% of futures contracts, in oil, are bought and sold by people who will never deliver supply or accept delivery. The CEO of XOM, himself stated that oil should be in the $60-$70 range, if it weren't for speculators. Increasing domestic production is a joke in the global market where oil is traded.
The only time anyone would invest in something they didn't see value in is if they were creating a pump and dump scam. No one can do that with the entire oil market, because it's way to big. There is no posibilty of all of the speculaors working in cohoots. The demand for oil is way too big and the investor pool is way too big.
Yeah, how'd that work for the bankers on all those over-valued real estate deals?
You're an idiot. Seriously. Do you honestly think that speculation doesn't happen on a wide scale because someone MIGHT get burnt?
Just because YOU can't imagine a scenario where it happens, doesn't mean it doesn't.
Hell, I pointed out that 2/3rds of the MONEY in the oil market, is held by people who COULD NOT TAKE POSSESSION of the commodities they purchase, but you still can't envision how they could make money off an over-valued market or control the price ?
Perhaps you should step away from your crack pipe.
Did we, or did we not, have a net export of oil last year?
Sure did.
Are you another who just gets information, does not understand iut...but regurgitates it anyway?
Increase domestic production results in less cost per gallon of gas created during the refining process......makes exporting costs larger in comparison....and makes domestic sales more attractive.
Whatever....I am dealing with a bunch of idiots on this site.
The fact remains that 64% of futures contracts, in oil, are bought and sold by people who will never deliver supply or accept delivery. The CEO of XOM, himself stated that oil should be in the $60-$70 range, if it weren't for speculators. Increasing domestic production is a joke in the global market where oil is traded.
The only time anyone would invest in something they didn't see value in is if they were creating a pump and dump scam. No one can do that with the entire oil market, because it's way to big. There is no posibilty of all of the speculaors working in cohoots. The demand for oil is way too big and the investor pool is way too big.
Yeah, how'd that work for the bankers on all those over-valued real estate deals?
You're an idiot. Seriously. Do you honestly think that speculation doesn't happen on a wide scale because someone MIGHT get burnt?
Just because YOU can't imagine a scenario where it happens, doesn't mean it doesn't.
Hell, I pointed out that 2/3rds of the MONEY in the oil market, is held by people who COULD NOT TAKE POSSESSION of the commodities they purchase, but you still can't envision how they could make money off an over-valued market or control the price ?
Perhaps you should step away from your crack pipe.
Sure did.
Are you another who just gets information, does not understand iut...but regurgitates it anyway?
Increase domestic production results in less cost per gallon of gas created during the refining process......makes exporting costs larger in comparison....and makes domestic sales more attractive.
Whatever....I am dealing with a bunch of idiots on this site.
The fact remains that 64% of futures contracts, in oil, are bought and sold by people who will never deliver supply or accept delivery. The CEO of XOM, himself stated that oil should be in the $60-$70 range, if it weren't for speculators. Increasing domestic production is a joke in the global market where oil is traded.
Correct.
Obama has INCREASED domestic production of oil.
Were Jarhead's contentions correct....gas prices should have gone down.
Perhaps he can explain since production went up, why gas prices followed?
The only time anyone would invest in something they didn't see value in is if they were creating a pump and dump scam. No one can do that with the entire oil market, because it's way to big. There is no posibilty of all of the speculaors working in cohoots. The demand for oil is way too big and the investor pool is way too big.
Yeah, how'd that work for the bankers on all those over-valued real estate deals?
You're an idiot. Seriously. Do you honestly think that speculation doesn't happen on a wide scale because someone MIGHT get burnt?
Just because YOU can't imagine a scenario where it happens, doesn't mean it doesn't.
Hell, I pointed out that 2/3rds of the MONEY in the oil market, is held by people who COULD NOT TAKE POSSESSION of the commodities they purchase, but you still can't envision how they could make money off an over-valued market or control the price ?
Perhaps you should step away from your crack pipe.
so the banks intentionaly almost went out of buisness with this great stradegy to make money.
Yeah, how'd that work for the bankers on all those over-valued real estate deals?
You're an idiot. Seriously. Do you honestly think that speculation doesn't happen on a wide scale because someone MIGHT get burnt?
Just because YOU can't imagine a scenario where it happens, doesn't mean it doesn't.
Hell, I pointed out that 2/3rds of the MONEY in the oil market, is held by people who COULD NOT TAKE POSSESSION of the commodities they purchase, but you still can't envision how they could make money off an over-valued market or control the price ?
Perhaps you should step away from your crack pipe.
so the banks intentionaly almost went out of buisness with this great stradegy to make money.
Hey....idiot.
DID THEY MAKE A LOT OF MONEY? YES.
ARE THEY OUT OF BUSINESS? NO.
Golly. Looks like they did EXACTLY what you said they wouldn't and they didn't go out of business. Nope. LOTS of people walked away with a LOT of money before the crash, didn't they?
Next time, try not arguing against stuff that already happened.
so the banks intentionaly almost went out of buisness with this great stradegy to make money.
Hey....idiot.
DID THEY MAKE A LOT OF MONEY? YES.
ARE THEY OUT OF BUSINESS? NO.
Golly. Looks like they did EXACTLY what you said they wouldn't and they didn't go out of business. Nope. LOTS of people walked away with a LOT of money before the crash, didn't they?
Next time, try not arguing against stuff that already happened.
Yo...
Many did go under and the rest needed a bailout.
Fucking clueless.....
What he or you are saying doesn't make any sense. Why in God's name would any investor purposely create an artifical bubble? Why?
Der...to make money.
Do you think the market operates RATIONALLY where PROFIT is to be had ? What gave you this idea?
Didn't learn too much from 2007-2008, did you?
WoW you're a stupid fuck!
Why would you make more money investing in something you know is overvalued? You wouldn't, fuckface!
so the banks intentionaly almost went out of buisness with this great stradegy to make money.
Hey....idiot.
DID THEY MAKE A LOT OF MONEY? YES.
ARE THEY OUT OF BUSINESS? NO.
Golly. Looks like they did EXACTLY what you said they wouldn't and they didn't go out of business. Nope. LOTS of people walked away with a LOT of money before the crash, didn't they?
Next time, try not arguing against stuff that already happened.
Yo...
Many did go under and the rest needed a bailout.
Fucking clueless.....
Der...to make money.
Do you think the market operates RATIONALLY where PROFIT is to be had ? What gave you this idea?
Didn't learn too much from 2007-2008, did you?
WoW you're a stupid fuck!
Why would you make more money investing in something you know is overvalued? You wouldn't, fuckface!
Jeebus, you just lived through the biggest insider trading, cronyism and BS deregulation, boom and bust bubble and even pollution disaster EVER and you are STILL this dumb? Pub dupes!!
.
We did?Der...to make money.
Do you think the market operates RATIONALLY where PROFIT is to be had ? What gave you this idea?
Didn't learn too much from 2007-2008, did you?
WoW you're a stupid fuck!
Why would you make more money investing in something you know is overvalued? You wouldn't, fuckface!
Jeebus, you just lived through the biggest insider trading, cronyism and BS deregulation, boom and bust bubble and even pollution disaster EVER and you are STILL this dumb? Pub dupes!!
What he or you are saying doesn't make any sense. Why in God's name would any investor purposely create an artifical bubble? Why?
Let us also not forget that the GOP wanted to CUT the budget of the entity charged with stopping speculation.
Congressional Republicans plan to cut Commodity Futures Trading Commission funding to 2008 levels would allow for manipulation of energy markets and could lead to higher U.S. oil prices, Senate Democrats said in a letter.
At a time where gas prices are rising and squeezing American families, we have a responsibility to provide our watchdogs the resources they need to fulfill their important oversight and regulatory responsibilities, the lawmakers wrote in a letter scheduled to be sent today to Senate Minority Leader Mitch McConnell and House Speaker John Boehner.
The proposed cuts would undermine the CFTC, which protects American consumers by cracking down on manipulation and other market abuses, according to the letter signed by more than 40 of the Senates 51 Democrats.
The $169 million budget for the CFTC, which has authority under the Dodd-Frank Act to write derivatives regulations, has been caught in a stalemate between Republicans aiming to cut spending and Democrats looking to pay for the new rules.
Republicans, who took control of the House and narrowed the Democrats Senate majority in November elections, proposed cutting the CFTCs budget by $56.8 million for the current fiscal year. The agencys budget would increase to $308 million under President Obamas fiscal 2012 proposal presented Feb. 14.
CFTC Chairman Gary Gensler has said the budget for this year is far less than what is needed to fulfill the agencys responsibilities under Dodd-Frank, the regulatory overhaul enacted in July. A funding reduction would lead the CFTC to cut its staff, Gensler told senators on March 3.
Senate Democrats Say CFTC Budget Cut Could Increase Oil Prices - Bloomberg
SO more than a YEAR ago, senate dems were warning of this and the reasons why it would happen.
OUCH!
This really puts a damper on those poor RepubliCONZ blaming anyone but themselves for the high gas prices.
Hey....idiot.
DID THEY MAKE A LOT OF MONEY? YES.
ARE THEY OUT OF BUSINESS? NO.
Golly. Looks like they did EXACTLY what you said they wouldn't and they didn't go out of business. Nope. LOTS of people walked away with a LOT of money before the crash, didn't they?
Next time, try not arguing against stuff that already happened.
Yo...
Many did go under and the rest needed a bailout.
Fucking clueless.....
My point is that the money had been MADE by the point of the collapse, hadn't it?
Are you saying that the market self regulates so as NOT to nearly destroy itself?
Yeah. Good luck reconciling that opinion with reality.
