Speculation is driving up the price of oil?!?!?!?! Amazing.

Also, WE LANDED ON THE MOON!

Jed Clampett

what they are not telling you is that in the first years of the Bush administration, the republican congress reduced our ability to monitor the markets and to identify speculators that where illegaly using the markets to drive up their profits by virtue of their moving large amounts of wealth. so, republicans and their cronies have made the conditions possible for them to increase their wealth and their monopoly on wealth as the rest of the country suffers.

YEA REPUBLICANS… CAN YOU MAKE ANOTHER HANDBASKET, THIS ONE SEEMS TO BE OVERFILLED.

nice Jed…

it wasn’t called the Enron Loophole for nothing. wasn’t it masterminded by kenneth lay and enabled by the administration? isn’t it funny how long they’ve gotten away with it so far?

Hey Jed,

You DO YOU KNOW CHATA, CHATA HECK UP!!!

Jed Clampett

Here’s a thought, take back any lease that has been held idle for the last year. Dissolve all contracts with the power the president has to renegotiate any contract that has unfavorable terms to the US. And start restructuring the whole thing. Teapot dome has gone unpunished long enough, about the same players control the whole deal. Put them on trial for corruption and price fixing of a natural global resource. Planetary treason would be more appropiate, but that isn’t a law to cover that. Either that or implement the solution the French did with their revolution. Decapitate the beast by eliminating it’s agents on earth.

THESE SOULLESS MONEY GRUBBERS JUST FINISHED STARVING THE THIRD WORLD WITH WHEAT FUTURES, NOW THEY WANT TO BREAK AMERICA, WITH THESE HIGH GAS PRICES!

THESE SOULLESS MONEY GRUBBERS JUST FINISHED STARVING THE THIRD WORLD WITH WHEAT FUTURES, NOW THEY WANT TO BREAK AMERICA, WITH THESE HIGH GAS PRICES!

CHERINOBAL STILL BURNS IN ITS CEMENT TOMB
——————– —– ————-

MCCAINS ENERGY POLICY IS SICKENINGLY FLAWED! WE AMERICANS DONT WANT NUCLEAR ENERGY, HYDERGEN IS THE WAY THE ONLY WASTE IS WATER!

ONE QUAKE ONE HURRICANE ONE ACCIDANT AND THE HELL FIRE WILL BURN OR CHILDRENS CHILDREN!

It would appear that only those who yell and scream and rant psychotically have no trouble getting their posts aired, repeatedly, repeatedly.

As I recall, whenever I tried to resend a post, I got whacked by MCP saying I’d already sent that one. How do these guys get around that? CAPS?

I didn’t used to think advocating violent overthrow of the entire system (political and economic both) was the healthiest thing to do, but with every passing day, it’s looking less and less like we have any other options…

(Merkwurdigliebe)

The problem with speculation is that a lot of it is foreign in nature…a lot of it driven by Chinese and European industrial firms, who will be uneffected by any attempts to curb speculation in our country…drilling for oil will temporarily lower the price (as oil price is speculated in future amounts, so the argument that it wont reach the market until years after the fact is moot in terms of speculation), but only a comprehensive overview of energy policy is going to provide a real solution

Hell fires– Do you even know that Chernobyl was an intentional event that could have been avoided? Nuclear power is clean and safe, ask France or Japan, both of whom derive the majority of their energy from nuclear power, so quit spewing nonsense

Merk, “the argument that it wont reach the market until years after the fact is moot in terms of speculation”. It’s not moot. It would take 5-7 years. They’re not speculating that far in advance. Even if we pumped all 21 billion barrels at once, they’d be gone in 3 years time at our current consumption levels. And, as the energy industry sits now, that oil isn’t guarranteed to go to us. We also need to beware of the McCain 300 million dollar reward sham. Remember, exxonmobil already bought a few battery technologies. Where are those ones? 90% of oil and gas campaign donations go to Republicans……

This is what happens when energy magnates hijack the white house. Energy profits rise exponentially, while the sheep suffer. Deregulating energy needs to change. Capitalism in the ‘materialistic’ market (electronics, automobiles, etc.) is fair game. Capitalism in the health and energy industry is a crock.

Jed Clampett

Look what the industry has already done when given the opportunity to manage a global resource. They’ve totally mismanaged the entire system and should now be prosecuted and the industry nationalized and removed from the ‘open’ market. China doesn’t trade in the open market, they go directly to the suppliers, so does India, so anything less than improving consumption efficiency is merely window dressings. This was going to happen eventually, now we have to make it happen precipitously because the industry and their cronies in gov have allowed it to languish, fester and rot for over 30 years even though we understood the consequences of dependance on foreign resources during the Carter administration.

perhaps you guys missed Jim’s post a few days ago… makes alot of sense.

————–

ji m | 6/13/2008, 1:52 pm EST

The economic situation in this country is only going to worsen not as a result of how much Americans are paying but rather where the money is going. Taxes on gasoline have been around 40 cents for the past DECADE! Unfortunately with the $2.60 increase on gasoline since 1998 all of that money is going towards these Saudi Arabian billionaires rather than staying within the country. In some parts of Europe there are paying as much as $10.50/gallon and the way that they get by is PUBLIC TRANSPORTATION. In the United States public transportation is viewed for the poor. “Respectable business men” do not ride the bus to work. If taxes were to increase there would be more pressure on Americans to use public transportation. It would be money that would stay in the country and could be used for things like creating better transit systems. Sadly no politicians will put forth an increase on taxes on gas because Americans do not want to hear higher gas prices on top of steady spike on prices already.
Increase tax on gasoline + increase in public transportation = better American economy

(Merkwurdigliebe)

Coach– yes they are speculating that far in advance, and in some cases 10-15 years down the road…supply speculation is a speculation of future oil amounts, and drilling would help solve the speculator side of the speculation…if they believe there is more oil, or that the US is going to be proactive about finding it, then speculators will jump and prices will lower

note, I didnt say that drilling would solve our refining problems, or the problems of a stablizing supply with increased demand from 3rd world markets…so drilling is a solution that only partly would solve the problem, and not even largest part of it either…it will provide temporary, and not permanent, relief

Merk, you’re doing a balancing act again. On one hand you say drilling for more oil would be a good idea. On the other hand, you say it wouldn’t do much of anything at all. Do you realize how much effort and time and money it would take to get that tiny bit of oil online? My question is this: If it’s not going to make much of a difference, and is not going to become available for at LEAST 5 years, and isn’t even guarranteed to go to us, why do it?

Should have, would have, could have. And there should be a chicken in every pot.

We created this world and we liked it just fine when things were ‘okay’(read, Clinton Years). But now it’s a mess and we don’t like it. Grow up.

The good news is that if this BS keeps up much longer, a groundswell movement will occur to nationalize the oil/gas industry. For national security reasons. May as well toss in the SEC for good measure; they fugk up the national security by their very existence. We could nationalize the trucking industry too. And farmers. Wait, they ARE nationalized, sans control and accountability.

Weirdo, we haven’t landed on the moon in YOUR lifetime.

Nationalize energy, yes. Nationalize health care, yes. Nationalize agriculture, yes. Capitalize materialistic things, yes.

But, can we also get a bigger selection of personal transportation. Every single available highway-ready vehicle you can purchase has to stop at a gas station. Enough, already. Offer something else for a change, and keep Exxon’s grubby mits out of it.

The math: 1000 EV1s produced and leased. All 1000 leasors were ready and willing to pay top dollar for said cars. Zero Emissions law gets overturned, cars get destroyed. THAT WAS IN THE 90s PEOPLE!!!!!!!!!!!!

It’s my guess that there hasn’t been a highway-ready electric vehicle that DIDN’T GET SOLD. What other industry ignores such a huge demand?

Jed Clampett

Why do it? for it’s “psychological” effect.

Which is political speak for ‘how it affects the sheeple’.
It allows republicans to create a polarization around the issue, while avoiding the true solution. Improving efficiency and working towards getting off petroleum as a prime mover in transportation. There’s alot of money in waste and they’ve allowed systems to be inneficient for over a hundred years. The last 60 or so with exponentially increases in the level of co2 in the atmosphere while at the same time using engines that consume ten times the vehicles weight per hour in oxygen.
We are effectively telling the planet we want a carbon atmosphere.
Good luck with that.