Posted on 03/12/2008 1:19:03 PM PDT by maquiladora
“This is why oil should not be traded in the markets. That practice should end.”
Both parties want it to remain it appears. All political interest in improving our energy lives has been circumvented into “bio” fuels, carbon credits and cap and trade. Clinton, McCain, Obama all on board with the financial houses backing Cap and Trade.
Outlook: gloomy.
Shall we all wait for solar powered cars while oil is EVERWHERE? Where is it written that the Saudi’s have the sole source for the earth's oil reserves? Sheeesh!!!
Sorry....it's not you, but why do we have to convert coal to oil, while there is oil that is already available, local oil....?
Democrats/liberals/Socialists stopped more than 130 of the 150 coal power plants that were supposed to come online from being built.Do the math. That is why we have an energy crises. This causes electricity and heating oil(Oil) to rise through the roof. The U.S. has 600 years worth of cheap coal, more than any other country. You think there is a coincidence that liberals say coal pollutes and causes global warming?
“In 2007, proposals for 59 coal plants were scrapped in 24 states, either by state regulators concerned about the effects of carbon-dioxide emissions or by power companies worried about the future costs of pollution, according to data from the Sierra Club.
~~snip~~
Coal is now burned in more than 600 plants to generate 49 percent of the country’s current electricity, ...
Although 150 new coal-fired power plants were proposed between 2000 and 2006, the bulk of those projects has been delayed or canceled, ...”
http://www.freerepublic.com/focus/f-news/1984439/posts?page=37#37
Outlook, VERY GLOOMY.
I think he means the option/commodity markets.
Not the spot market, where actual users, e.g., refiners, buy the oil. Hedge funds can’t park money there.
And WHY is the dollar so low?
IT couldn’t be because we don’t make anything anymore and all the stuff we buy is made overseas, could it?
Another catastrophe presided over by Bush et al, although to be fair it started under Clinton and maybe even under Bush’s Daddy.
And the commodity dealers, like water salesmen, or better yet, oasis owners in a desert, are squeezing what’s left of the American economy, and, in the process, American citizens.
Meanwhile we continue to por millions into Iraq and Africa, and give away defense contracts to European companies we are suing.
Somthing is not quite right here.
“Liberals/democrats/socialists have stopped most coal power plants, refineries, etc. from being built”
All very true.
But WHY isn’t Bush using the Bully pulpit to get public support for all the above? Now, would seem to be the most opportune time.
I think its because he and his buddies in the oil business are doing so well with these inflated prices that there is no incentive to work to eliminate them.
Until NYMEX began trading oil futures contracts about 1983 it was spot markets, and spot markets are the most unstable pricing situation there is. NYMEX was known as Butter, Cheese, and Eggs at the time and was about to go out of business due to an economic accident.
I wonder if they are figuring that if their bets fall through, someone will bail them out like they are the banks.
Bingo, no incentive and huge profits, for doing what, the usual. Drill Damit!
Notice that the Democrats in congress can't get many of their proposals passed either.
Russia would be pleased to provide ‘security’ in the region. For free.
Lets not forget printing and distributing the green toilet paper to banks every other month.
Bad for America.
Good for financing Jihad.
I think that the liberal mainstream media controls everything as they are in everyones living room telling them what is “news” and what is the “truth” which is in reality isjust Marxist propaganda from the liberal media.
Bush has to kow tow to the media or they won’t give him air time
Republicans didn’t have a filibuster proof Congress. If you recall Bush and Congress tried to get drilling in ANWR passed and Democrats filibustered and stopped this. So did you fall for the liberal media and Michael Savage spin or are you a Democrat.
The liberal media won the Drilling in ANWR propganda war and I don’t think any other indivdiual can win a propganda war with the liberal media since they have thousands of media outlets on practically all TV stations, on cable , on radio, practically all newspapers, the internet etc.
I hear you. In a sane world, there would be oil derricks springing up on the Santa Barbara coast and the Rockies. Not to mention a booming industry in constructing oil refineries. Instead, we’re retiring the folks here who could do these things and waiting ‘til the infrastructure breaks down. Nuts.
If you are the dweeb with a couple gas stations barely making the payments on your house trailer, you got to consider, when pricing your gas for sale, how much it's gonna cost you to refill those tanks when they're empty (NOT how much it cost you to fill them in the first place.) You can't store that stuff in a can behind the refrigerator; you gotta buy it when there's a place to put it (mostly empty ground storage tank) and you pay the price the guy with the truck charges you when it's done.
Meanwhile, you and your neighbors in the business are all in a mad scramble, trying to guess where to set the price so as not to go broke because the customers all go across the street (too high) and at the same time not to go broke because the gas costs slightly more per gallon than you're charging and you didn't figure it out until you were broke anyway (too low.)
Meanwhile, everybody's mad at you because the price jumped, but nobody notices the real culprits.
The crash is going to be spectacular. Personally, I plan on retiring on the backs of suckers who think oil is really worth $100+/bbl.
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