Get rid of Day Trading on Petroleum

[Working Man]

It's pretty evident that I don't make gassillions of dollars for a living. So,, I have felt the price increase pain at the pumps.

Some of the reasons for the increase in oil, hence gasoline, is not readily at my/our control.. India, Pakistan, China are three other growing economic entities that demand their share of petroleum. SUPPLY AND DEMAND,,, hard to argue this point...... (However,, I do blame most of this on the US government and the dopes we pay to keep this in check)

One area that has caused an impact on petroleum is the group that runs the prices of crude oil up, and then down, in order to make a buck. The Day Traders, and related investors. Unnecessary price spikes, and market panic isn't needed. Those who have been running the prices up on "fear*" should go bury their heads in the sand and wait for armeggedon.* Un substantiated rumor as to the US gowing to war with Iran, for one example.

Perhaps buying petroleum futures,, and then holding them for a REQUIRED pre determined period, would flatten the spikes and add stability to the market.

The US economy isn't in that sound of shape that we can afford to cause long lingering negative effects.

Would this work??? Ok, let's hear the response.

 

[dilloduck]

It's pretty evident that I don't make gassillions of dollars for a living. So,, I have felt the price increase pain at the pumps.

Some of the reasons for the increase in oil, hence gasoline, is not readily at my/our control.. India, Pakistan, China are three other growing economic entities that demand their share of petroleum. SUPPLY AND DEMAND,,, hard to argue this point...... (However,, I do blame most of this on the US government and the dopes we pay to keep this in check)

One area that has caused an impact on petroleum is the group that runs the prices of crude oil up, and then down, in order to make a buck. The Day Traders, and related investors. Unnecessary price spikes, and market panic isn't needed. Those who have been running the prices up on "fear*" should go bury their heads in the sand and wait for armeggedon.* Un substantiated rumor as to the US gowing to war with Iran, for one example.

Perhaps buying petroleum futures,, and then holding them for a REQUIRED pre determined period, would flatten the spikes and add stability to the market.

The US economy isn't in that sound of shape that we can afford to cause long lingering negative effects.

Would this work??? Ok, let's hear the response.

free market folks would disagree but I agree----speculators affecting the market sucks.

 

[BaronVonBigmeat]

Speculators perform a valuable service, otherwise there wouldn't be a place for them in the marketplace. They buy when resources are relatively plentiful and cheap, and sell them at a premium during times of scarcity, thus smoothing out extreme supply fluctuations. It may seem odd to call our current gas situation "plentiful" I admit. But it could potentially get much worse. If war breaks out with Iran, there's no telling how much the flow of oil could be disrupted. They can disrupt the oil flow more than Saddam ever could, from what I understand.

If this is the case and it looks like oil could be up to (inflation-adjusted) 1970's prices, with long lines at the pumps...then we need to start conserving immediately. And really the only way to do that on a mass scale is with higher prices.

 

[dilloduck]

Speculators perform a valuable service, otherwise there wouldn't be a place for them in the marketplace. They buy when resources are relatively plentiful and cheap, and sell them at a premium during times of scarcity, thus smoothing out extreme supply fluctuations. It may seem odd to call our current gas situation "plentiful" I admit. But it could potentially get much worse. If war breaks out with Iran, there's no telling how much the flow of oil could be disrupted. They can disrupt the oil flow more than Saddam ever could, from what I understand.

If this is the case and it looks like oil could be up to (inflation-adjusted) 1970's prices, with long lines at the pumps...then we need to start conserving immediately. And really the only way to do that on a mass scale is with higher prices.

Bring on the extreme fluctuations. Paying speculators to keep prices 'steady' only fills thier pockets.

 

[Darwins Friend]

Let the market go where it will - and how it will. Don’t like gas prices? Drive less. Plan your trips. Drive smaller vehicles.

And get ready, because $3.00 - $3.50 a gallon gasoline prices are here to stay and will soon be the norm. India and China will cause the price to steadily rise and the $3.65 "threshold" from last year will look cheap. Oil companies found out then where the top of the pain scale was and within a year they’ll blow past it like yesterday’s news.

Because, well - it is.

 

[Working Man]

Let the market go where it will - and how it will. Don’t like gas prices? Drive less. Plan your trips. Drive smaller vehicles.

And get ready, because $3.00 - $3.50 a gallon gasoline prices are here to stay and will soon be the norm. India and China will cause the price to steadily rise and the $3.65 "threshold" from last year will look cheap. Oil companies found out then where the top of the pain scale was and within a year they’ll blow past it like yesterday’s news.

Because, well - it is.

Truth hurts, too much.
It isn't just about busted refineries, and day trading. It is also about the countries/new economies that WE are creating, with our lost jobs and trade deficits, that are going to screw us like a two dollar whore.

What did the geniuses at Jeep do in order to answer the call for more efficient vehicles?? The new Jeep Commander.

How long must I wait, now that the petroleum market is messed up, in order to buy a Prius??? TOO long!!

50 mpg beats my miniv that gets maybe 20mpg. My scooter gets 40mpg, even when I crank it up, so at the momment, it is my "efficient" car.

Now, my boat,, argh!! That queen eats Premium all the time, and it is a two stroker, so there is the oil ++, and then the tow vehicle,,,,I think I burn about 4-5 gallons per hour with it.. It will be > 100 bucks per fishing trip.. Damn, probably cheaper to buy Starkist!! :-((

 

[BaronVonBigmeat]

Bring on the extreme fluctuations. Paying speculators to keep prices 'steady' only fills thier pockets.

It's easy to say that. Then when you have 70's style gas lines and rationing it won't seem so great. It's the same thing with anti-gouging laws. They take away gas station owners' incentives to buy bigger tanks, and make it less attractive for oil companies to hold emergency supplies. Price controls give shortages, every time. And then you'd have a black market, with people selling surplus gasoline out of their garage to the highest bidder. You trade a legal middleman for an illegal one.

 

[manu1959]

It's pretty evident that I don't make gassillions of dollars for a living. So,, I have felt the price increase pain at the pumps.

Some of the reasons for the increase in oil, hence gasoline, is not readily at my/our control.. India, Pakistan, China are three other growing economic entities that demand their share of petroleum. SUPPLY AND DEMAND,,, hard to argue this point...... (However,, I do blame most of this on the US government and the dopes we pay to keep this in check)

One area that has caused an impact on petroleum is the group that runs the prices of crude oil up, and then down, in order to make a buck. The Day Traders, and related investors. Unnecessary price spikes, and market panic isn't needed. Those who have been running the prices up on "fear*" should go bury their heads in the sand and wait for armeggedon.* Un substantiated rumor as to the US gowing to war with Iran, for one example.

Perhaps buying petroleum futures,, and then holding them for a REQUIRED pre determined period, would flatten the spikes and add stability to the market.

The US economy isn't in that sound of shape that we can afford to cause long lingering negative effects.

Would this work??? Ok, let's hear the response.

a: explain how the us govt controls the cost of foreign oil and private refineries

and

2: why not day trade with the rest and make a few bucks.

 

[Working Man]

a: explain how the us govt controls the cost of foreign oil and private refineries

and

2: why not day trade with the rest and make a few bucks.

The US government can't really much to foreign oil companies, etc.. But, trade imbalances are causing other contries to be able to compete with th e "Texas tea, black gold" that we live on here. I would suspect that other world stock markets wouldn't go along with limiting the frequency of trades, brokers and investers could make..

As far as joining them instead of bitching about them.. You know, to be honest, if I knew how I probably would.

 

[Toro]

The price of oil is not being pushed up be "day traders." Day traders are guys who sit behind screens buying 100 shares of this and 100 shares of that. They're too small.

However, hedge funds are effecting the price of oil. To what extent is unknown, but the price of oil would not be going up if the fundamentals did not support it.

Most speculators lose money BTW.

 

[PsuedoGhost]

Truth hurts, too much.
It isn't just about busted refineries, and day trading. It is also about the countries/new economies that WE are creating, with our lost jobs and trade deficits, that are going to screw us like a two dollar whore.

What did the geniuses at Jeep do in order to answer the call for more efficient vehicles?? The new Jeep Commander.

How long must I wait, now that the petroleum market is messed up, in order to buy a Prius??? TOO long!!

50 mpg beats my miniv that gets maybe 20mpg. My scooter gets 40mpg, even when I crank it up, so at the momment, it is my "efficient" car.

Now, my boat,, argh!! That queen eats Premium all the time, and it is a two stroker, so there is the oil ++, and then the tow vehicle,,,,I think I burn about 4-5 gallons per hour with it.. It will be > 100 bucks per fishing trip.. Damn, probably cheaper to buy Starkist!! :-((

The real scam, is that the Hybrids actually get 35-40 MPG in reality. Sucks don't it... Wait for a year to get an overhyped car with the same fuel efficiency as most compact gas cars. If you really want to get something that will save you money in the long term get a flex fuel car, so that when the US switches over to more ethanol dependent fuels, you'll have a vehicle that can switch over without the need to trade up.

 

[Hobbit]

The real scam, is that the Hybrids actually get 35-40 MPG in reality. Sucks don't it... Wait for a year to get an overhyped car with the same fuel efficiency as most compact gas cars. If you really want to get something that will save you money in the long term get a flex fuel car, so that when the US switches over to more ethanol dependent fuels, you'll have a vehicle that can switch over without the need to trade up.

I think one of the best investments today is a K&N high performance air filter. I got one in my little '99 Saturn SL and my gas milage is up about 10-15% to about 45+ on the highway. They're expensive, but they never have to be replaced and it'll pay for itself in gas milage in less than a year. Best part is that it also ups your horsepower by about 15%.

 

[Working Man]

The real scam, is that the Hybrids actually get 35-40 MPG in reality. Sucks don't it... Wait for a year to get an overhyped car with the same fuel efficiency as most compact gas cars. If you really want to get something that will save you money in the long term get a flex fuel car, so that when the US switches over to more ethanol dependent fuels, you'll have a vehicle that can switch over without the need to trade up.

Hybrids maynot be the total answer, but I would rather have an elctric car than one that depends on some corporate farmer to supply me with fuel. Also, when there are droughts or floods,, corn doens't do too well. We can't guarantee the weather.

Where I work, a number of people have purchased the Prius cars.. One guy has two and he works about 25m from home. I wouldn't exactly blow off hybrids at this time. Sure, they might not be offering consistent high mpg,, but they can do it better than my scooter with its 1340ci engine,, and they have four tires and a cd player!!