Big Oil CEOs just lied before Congress. It’s time they’re held accountable

[Toddsterpatriot]

They can literally hedge their bets so no matter what the market does they win.

A bet where you can't lose is usually one that you can't win.

 

[AZrailwhale]

A bet where you can't lose is usually one that you can't win.

Not when it comes to futures. You just win smaller.

 

[Toddsterpatriot]

Not when it comes to futures. You just win smaller.

Show me an oil bet where no matter what the market does they win.

 

[AZrailwhale]

Show me an oil bet where no matter what the market does they win.

I can’t remember the terms, but you buy a position based upon prices rising, and one based upon them falling. The only way you can lose is if you get your numbers wrong and the commodity never reaches the position you bought. Of course that’s from an Econ class fifty years ago, so I don’t remember details of the strategy exactly.

 

[Toddsterpatriot]

I can’t remember the terms, but you buy a position based upon prices rising, and one based upon them falling. The only way you can lose is if you get your numbers wrong and the commodity never reaches the position you bought. Of course that’s from an Econ class fifty years ago, so I don’t remember details of the strategy exactly.

I can’t remember the terms, but you buy a position based upon prices rising, and one based upon them falling.

Sounds like a put and a call. Buying both would be a long straddle. Whether you buy one or sell one, a loss is still possible.

Of course that’s from an Econ class fifty years ago, so I don’t remember details of the strategy exactly.

How wealthy would you be if you had used that no lose strategy over the last 50 years? Damn!

 

[JohnDB]

lol not in 1970. That was about 3 years before the Oil Shortage hoax and the real global food shortages. AS for your 2nd point, a sizable chunk of the population have been living that time ever since, compounded by pandering to the financial sector over the industrial sector, especially under Nixon, Ford, Carter, and Reagan. The GOP has succeeded in making unions wildly popular again.

Nope...wrong AGAIN....
Unions are there to take your paycheck while the principals are busy lining their pockets in a whole varieties of ways...from your health benefits to retirement programs and contracts they make...they take your paycheck (as dues and other expenses) to line their pockets heavily...

Back when Bush Jr was president he wanted the Union's mutual funds investigated for the highest fees of any mutual fund available...union membership must invest in them for their retirement...which involves buying expensive priced low value properties that in turn are rented to their own union halls at exorbitant prices.

It's another ponzi scheme and nobody trusts them.

I don't know why you want America bankrupted again...but it would be better to live anywhere else other than allow the things you are talking about come to fruition.
Are you actually a shill for Iran, Russia, or PRC?

 

[DudleySmith]

Nope...wrong AGAIN....
Unions are there to take your paycheck while the principals are busy lining their pockets in a whole varieties of ways...from your health benefits to retirement programs and contracts they make...they take your paycheck (as dues and other expenses) to line their pockets heavily...

Back when Bush Jr was president he wanted the Union's mutual funds investigated for the highest fees of any mutual fund available...union membership must invest in them for their retirement...which involves buying expensive priced low value properties that in turn are rented to their own union halls at exorbitant prices.

It's another ponzi scheme and nobody trusts them.

I don't know why you want America bankrupted again...but it would be better to live anywhere else other than allow the things you are talking about come to fruition.
Are you actually a shill for Iran, Russia, or PRC?

Keep telling yourself all that nonsense. Meanwhile, you and the other company shills have managed to make unions popular again even among Republican voters, with 68% approval ratings and climbing.

And, they are helped by yet another industry getting caught conspiring to keep wages and salaries low, the aerospace industry making deals among themselves not to poach each other's engineering employees by offering higher wages, as they would have to do in a free market. Of course you nor any of the other Town Hall types manage to post threads on employers forming unions to restrict competition, which is why your credibility isn't any higher than the Left's or the government's.

But keep tossing out those strawmen, as if I give a shit about pandering to the right wing PC Police any more than I do the left wing troll farms.

 

[DudleySmith]

Show me an oil bet where no matter what the market does they win.

Easy. You start a drilling company, sell as much of it as you can to suckers, pay yourself a huge salary for managing it, and it doesn't matter if it is a dry hole or not, you got yours.

 

[Toddsterpatriot]

Easy. You start a drilling company, sell as much of it as you can to suckers, pay yourself a huge salary for managing it, and it doesn't matter if it is a dry hole or not, you got yours.

Thanks for your rant. It was really helpful.

 

[DudleySmith]

Thanks for your rant. It was really helpful.

It's a common practice. It's the technique George Bush I used to get the money for his career as a Fake 'Texan' and 'oil man'.

 

[toobfreak]

They operate powerfully on the intellects of the feeble minded and the results of this are all too evident on these forums.

I've noticed the pronounced effect that they have on you, Tommy! Just terrible.

 

[Toddsterpatriot]

It's a common practice. It's the technique George Bush I used to get the money for his career as a Fake 'Texan' and 'oil man'.

That's very sad. I hope you didn't lose too much.

 

[DudleySmith]

That's very sad. I hope you didn't lose too much.

Maybe next year you can up your game.

 

[Toddsterpatriot]

Maybe next year you can up your game.

Don't cry.

 

[JohnDB]

Keep telling yourself all that nonsense. Meanwhile, you and the other company shills have managed to make unions popular again even among Republican voters, with 68% approval ratings and climbing.

And, they are helped by yet another industry getting caught conspiring to keep wages and salaries low, the aerospace industry making deals among themselves not to poach each other's engineering employees by offering higher wages, as they would have to do in a free market. Of course you nor any of the other Town Hall types manage to post threads on employers forming unions to restrict competition, which is why your credibility isn't any higher than the Left's or the government's.

But keep tossing out those strawmen, as if I give a shit about pandering to the right wing PC Police any more than I do the left wing troll farms.

Nope.... people are just quitting their jobs and learning to live on less. We aren't gonna do a lick of work for anyone unless it's on our terms...not one someone else decided that we needed.

 

[iceberg]

Big oil CEOs just lied before Congress. Itâs time theyâre held accountable | Jamie Henn

The top oil executives claim they never approved a disinformation campaign. That is simply not true

www.theguardian.com

This disinformation has helped create the problems that the world faces today. They operate powerfully on the intellects of the feeble minded and the results of this are all too evident on these forums.

So lets hope for some arrests and effective action against these rogues.

It's like you don't know you are talking to yourself.

 

[themirrorthief]

Big oil CEOs just lied before Congress. Itâs time theyâre held accountable | Jamie Henn

The top oil executives claim they never approved a disinformation campaign. That is simply not true

www.theguardian.com

This disinformation has helped create the problems that the world faces today. They operate powerfully on the intellects of the feeble minded and the results of this are all too evident on these forums.

So lets hope for some arrests and effective action against these rogues.

congress is the playboy mansion of lying

 

[themirrorthief]

I would think most Americans know those execs are shady in the least. They do whatever they want with prices. I've never trusted them to be on the up and up.

all governments are run by people with money duh