1 Million Apply for 62,000 McDonald's Jobs

[Samson]

Is there any commodity price change that is not all, or part, speculation?

Oil and Natural Gas are both commodities.

Oil is priced at historical highs

But not NG? Why?

Busses run on NG.

Why don't we build cars to run on NG?

There's a difference between the speculation you are likely thinking of and what was going on in Wall Street. I'll find a link to explain what I'm talking about.

If you want my honest opinion, Congress should implement once again the regulations that safeguard the commodities market from these sort of things. It wasn't until fairly recently after a fair amount of deregulation was Wall Street allowed to speculate the way they have.

Natural Gas is interesting to say the least. It certainly seems to be the future for at least the short term. ExxonMobil seems to think so since they recently once again became the largest Natural Gas company in the world.

"short term?"

Hate to break it to you, but there is no energy source that will sustain our current consumption on Earth forever.

However, commodities are traded, worldwide.

Its a little silly to believe that the US Congress is going to regulate their price.

 

[Modbert]

"short term?"

Hate to break it to you, but there is no energy source that will sustain our current consumption on Earth forever.

However, commodities are traded, worldwide.

Its a little silly to believe that the US Congress is going to regulate their price.

Of course, when I say long term I'm talking 40-50 years down the line. Not 200-300 years.

Like I said, read the article I just posted. It's quite informative.

 

[Mr Natural]

I went to McDonalds 4 days ago.

I was served by a Harvard grad...which ment that he did not leave the fries in the peanut oil long enough to melt the frozen core of the potato(e).

Wow!

A nation of Harvard trained burger flippers.

Talk about your American exceptionalism . . .

 

[Samson]

Here you go Samson:

Did Speculation Fuel Oil Price Swings? - 60 Minutes - CBS News

Read the entire article and let me know what you think. I'd copy and paste some portions but it's difficult to take the "best" parts from a 4 page article.

Ok read the article.

Interesting:

And in 2000, Congress effectively deregulated the futures market, granting exemptions for complicated derivative investments called oil swaps, as well as electronic trading on private exchanges

The interviewee in the article speculates that Enron was behind this.

Furthermore, before 2000, the price of oil hadn't fluxuated much more than: $30+$10/bbl. This did not change, however, until 2004 well after Enron Imploded.

 

[Modbert]

Ok read the article.

Interesting:

And in 2000, Congress effectively deregulated the futures market, granting exemptions for complicated derivative investments called oil swaps, as well as electronic trading on private exchanges

The interviewee in the article speculates that Enron was behind this.

Furthermore, before 2000, the price of oil hadn't fluxuated much more than: $30+$10/bbl. This did not change, however, until 2004 well after Enron Imploded.

The interviewee is saying that Enron was behind getting the futures market deregulated. Enron imploded shortly after the deregulation of the future markets and likely was never able to take advantage of the deregulation itself. This doesn't mean other companies couldn't and didn't take advantage of the opportunity.

 

[Samson]

Ok read the article.

Interesting:

And in 2000, Congress effectively deregulated the futures market, granting exemptions for complicated derivative investments called oil swaps, as well as electronic trading on private exchanges

The interviewee in the article speculates that Enron was behind this.

Furthermore, before 2000, the price of oil hadn't fluxuated much more than: $30+$10/bbl. This did not change, however, until 2004 well after Enron Imploded.

The interviewee is saying that Enron was behind getting the futures market deregulated. Enron imploded shortly after the deregulation of the future markets and likely was never able to take advantage of the deregulation itself. This doesn't mean other companies couldn't and didn't take advantage of the opportunity.

Yes I agree, but why the 4 year delay?

And why don't we see the same thing in Natural Gas Prices?

 

[Modbert]

Yes I agree, but why the 4 year delay?

And why don't we see the same thing in Natural Gas Prices?

I wouldn't really call it a four year delay. That's making the assumption that as soon as the deregulation occurred, speculation would automatically cause a price spike. I honestly don't know if the spike in oil prices from 2004 were the result of speculation as I'm not as well-versed on this subject as I want to be. I hope to be more when I do more reading this summer. What I can say however is that the 2008 Commodities Bubble (which was several years in the making) was the result of speculation.

As for why we're not seeing this with Natural Gas prices, I couldn't say. I would think it has to do something with the fact that it's more difficult for Natural Gas to be so volatile on Wall Street due to the fact that investors are weary of whether or not it is a good investment. Even though they are once again the largest Natural Gas company, many consider ExxonMobil making that move to be a huge risk. Whether my assessment is correct or not, I don't know for sure. So I'd take that with a grain of salt.

 

[uscitizen]

But just think of all the cheap shit we can buy at Wal-Mart now.

Yeah which guarantees Chinas dominance over us in the future.

Is that what "guarantees dominance?"

I thought it was Japan back in the '80's....

Doesn't take much to entertain you, does it.

I guess not, but your post did not do it for me

 

[Dr.House]

And therein lies the rub.

What becomes of all those people who were formerly gainfully employed and are now no longer needed?

Some go look for ways to support themselves and their families, making sacrifices where necessary...

Some look around the country to where hiring is happening and, if necessary, look to relocate...

Some sit on their ass, hoping Daddy Gubmint bails them out...

some steal,
Some just blow their brains out.
some lose their homes.

Lots of scenarios, huh?

Those who have a desire to survive and better themselves don't give up...

Others are happy to let others provide for them...

But not too many of them will vote republican.

I don't care... You might, but I don't....

 

[The Infidel]

HOPE AND CHANGE BABY in the ObamaNation.

Corporations are racking up record profits.

Sounds like Obamanomics is working out just fine for them.

Is'nt it you dummies who say that its the "evil corporations" that are ruining America?

 

[Samson]

Yes I agree, but why the 4 year delay?

And why don't we see the same thing in Natural Gas Prices?

I wouldn't really call it a four year delay. That's making the assumption that as soon as the deregulation occurred, speculation would automatically cause a price spike. I honestly don't know if the spike in oil prices from 2004 were the result of speculation as I'm not as well-versed on this subject as I want to be. I hope to be more when I do more reading this summer. What I can say however is that the 2008 Commodities Bubble (which was several years in the making) was the result of speculation.

As for why we're not seeing this with Natural Gas prices, I couldn't say. I would think it has to do something with the fact that it's more difficult for Natural Gas to be so volatile on Wall Street due to the fact that investors are weary of whether or not it is a good investment. Even though they are once again the largest Natural Gas company, many consider ExxonMobil making that move to be a huge risk. Whether my assessment is correct or not, I don't know for sure. So I'd take that with a grain of salt.

Frankly, I would be astonished if you, me, or anyone else, including 60 Minutes, completly understood the commodity markets, which returns us to the question of regulation: How does one regulate what one doesn't understand?

And, I repeat, that while the USA may be the largest consumer of oil, it certainly isn't the ONLY consumer, and it isn't the ONLY market. Trading in commodity futures could just as easily happen in Japan, or Brazil. Then the USA would have less control over it, and would also lose revenue from capital gains taxes on commodity sales.

There is no reason Natural Gas cannot be sold exactly like Crude. "Many" might consider ExxonMobil's acquisition of XTO "to be a huge risk." IMHO it was a sure thing: Natural gas will be the first SIGNIFICANT alternative to oil to emerge as oil becomes less recoverable.

Is Exxon Mobil Move Towards Natural Gas by Choice or by Necessity? - NASDAQ.com

My Guess is Natural Gas hasn't been as volitile as Crude because it isn't as sexy (scarce). It will become just as volitile as oil. In this area I have some personal knowedge: XTO, Chesapeak, etc, are planning to begin their own service companies, e.g. Halliburton, Baker Hughes, because the service companies simply cannot keep up with demand (Fracking).

Interestingly, this is a highly labor intenstive process (fracking), and it could provide millions of domestic jobs, except for one thing: Domestic Labor shuns working outdoors in remote locations for $15/hr as long as government provides $500/40hr week = $12.5/hr. Indeed, even for $20/hr, many will refuse the job (empirical basis).

 

[sparky]

Interestingly, this is a highly labor intenstive process (fracking), and it could provide millions of domestic jobs, except for one thing: Domestic Labor shuns working outdoors in remote locations for $15/hr as long as government provides $500/40hr week = $12.5/hr. Indeed, even for $20/hr, many will refuse the job (empirical basis).

but frackin' those pesky nieghbors over might be great incentive!

 

[editec]

Have recently seen a local restuarant and bar on route one reduce their hours of operation from 11AM to 12 PM seven days a week, down to about 20 hours a week, starting on Wednesday and closed on Sundays.

A BAR closing in hard economic times?

A BAR!?!

Times have got to be extremely bad before bars close folks. Bars didn't even close in most cases during the "GREAT depression"

This is what comes of the price of oil spiking so rapidly. What that does is immediately start taking away people expendable incomes...so resturants and bars are immediately feeling the pinch

Even six months ago, this bar was making enough to stay open.

Oh, and incidently? the coffee shop next door went OOB, last month, the gift shop OOB the month before.

This is on ROUTE I in the downtown of my home town. The other bar resturant in my town went down at the end opf the summer season in 2010.

Things are getting worse for most Americans every damned day.

 

[Samson]

Interestingly, this is a highly labor intenstive process (fracking), and it could provide millions of domestic jobs, except for one thing: Domestic Labor shuns working outdoors in remote locations for $15/hr as long as government provides $500/40hr week = $12.5/hr. Indeed, even for $20/hr, many will refuse the job (empirical basis).

but frackin' those pesky nieghbors over might be great incentive!


YouTube - Faucet Water Ignites! Natural Gas in Well Water! THANKS DICK!

You mention Fracking and every idiot that can search "Gas Land" on YouTube will post this video of a guy who wants the gas company to fix his water well.

Commission: Gas wells not causing flaming water | 9news.com

I guess it makes them feel better than going out and getting a job.

 

[pinqy]

This President's Economic Stats have always been Bullshit. The real Unemployment Numbers are far worse than what they claim. They've been busted repeatedly for fudging the numbers.

Please link to articles where "they" have been busted for "fudging." Not political spin (which is always BS), but evidence that the actual data and statistical releases have been fudged.

The numbers are a lie because once someones unemployment expires, they come off the books whether they have a job or not,

Where on earth did you get that idea? It's not at all true.

 

[sparky]

Have recently seen a local restuarant and bar on route one reduce their hours of operation from 11AM to 12 PM seven days a week, down to about 20 hours a week, starting on Wednesday and closed on Sundays.

A BAR closing in hard economic times?

A BAR!?!

Times have got to be extremely bad before bars close folks. Bars didn't even close in most cases during the "GREAT depression"

This is what comes of the price of oil spiking so rapidly. What that does is immediately start taking away people expendable incomes...so resturants and bars are immediately feeling the pinch

Even six months ago, this bar was making enough to stay open.

Oh, and incidently? the coffee shop next door went OOB, last month, the gift shop OOB the month before.

This is on ROUTE I in the downtown of my home town. The other bar resturant in my town went down at the end opf the summer season in 2010.

Things are getting worse for most Americans every damned day.

 

[Douger]

Lemme guess. Only 12,000 of the million were qualified for the positions so they are going to re-accept applications in Spanish and Mandarin ?

 

[editec]

1 Million Apply for 62,000 McDonald's Jobs

All according to plan.

Reap what your masters have sown for you, Americans.

Collectively, you have been hoisted in the petard of your own conceits and prejudices.

You have been and still are being manipulated by masters of propaganda.

You are voting for your own personal destruction and the end of the American way of life that most of your truly do love, but never did really fully understood.

 

[Samson]

1 Million Apply for 62,000 McDonald's Jobs

All according to plan.

Reap what your masters have sown for you, Americans.

Collectively, you have been hoisted in the petard of your own conceits and prejudices.

You have been and still are being manipulated by masters of propaganda.

You are voting for your own personal destruction and the end of the American way of life that most of your truly do love, but never did really fully understood.

Outside the Lunatic Fringe, is your post supposed to be meaningful?

 

[sparky]

You are voting for your own personal destruction and the end of the American way of life that most of you truly do love, but never did really fully understood.

they understand it when it works for them Editec