Posted on 07/13/2009 1:31:38 PM PDT by FromLori
Is this good?
Now wait a minute - oil speculators leave the oil market. The price of oil slumps. Seems to me the point has been made that speculators are artificially elevating the price of oil, or exaggerating disequilibria when they occur. And please don’t start talking to me about economics, I’m better versed than most. I’m looking at results and outcomes here.
Well I guess it is for us not having to pay such horrible prices for gas.
Vegetarian, anti-gun, anti-smoking, anti-speculator, any doubt liberals and nazis are connected at the hip?
the fact remains that demand for oil is not elastic.
we may use less of it but we will always use some.
More when the ‘global warming/climate change’ patterns
hit and blizzards/whiteouts blanket the NE/atlantic seaboard.
No but I sure do like the lower gas prices lol.
Every dollar that’s been spent on crude oil above the 35-45 a bbl range has been nothing more than speculator greed tax. This is a long overdue and very good thing.
DITTO. Market was design for users of oil to lock in prices, not non users to use it as a casino to distort the swings to the point that they cause recessions and booms.
The feds have noticed that the screaming is lessening about gasoline costs at or about $3/gallon. I suspect that they are clearing the playing field to raise taxes to capture the three dollar revenue.
What does this mean?
So-called "speculators" provide the equity that keeps many futures markets efficient. If it weren't for "speculators" it wouldn't be so easy for farmers or ranchers to hedge against price fluctuations or to lock in a price they like.
Yes, this is real good. For example, during last years election cycle the price of oil rocketed to almost $150/barrel despite the global glut. This spike didn’t help Republicans because Dems used the “crisis” as a campaign tool. Then the Muslim gets into the White House and the price of oil sinks to $40/barrel. Then, we hear a Goldman Saks story were they purchased numerous oil futures during the election campaign and stored the oil in massive tanks in Connecticut. Now, G.S. is getting very sweat deals from the Muslim. Coincidence? Sounds like a soap opera story, but it’s all true.
It means they are selling off their stockpiles they held waiting for the prices to go up because they do not want to deal with the government regulators so there is more stock and gas is cheaper.
no.
its never good when govt meddles
Bill O’Reilly probably has a wide smile across his big, ignorant face.
This is the problem for Republicans - they did not notice or did not care that working men and women, that business owners are paying for speculation which is not about the market of supply and demand of oil. Thus they let people trade oil on futures and margins with a tiny amount at risk - that kills the true market. The Republicans should have been all over this topic years ago when the rules of the market got out of hand.
“And please dont start talking to me about economics, Im better versed than most. Im looking at results and outcomes here.”
Drawing conclusions about results and outcomes has nothing to do with economics. Right.
And you’re so well-versed in economics that you don’t even want to talk about them. Right.
True, and even the legislation they’re considering won’t eliminate speculation. But the correlation is stil there - speculation decreases, the price drops. I don’t want to interfere in free markets any more than necessary. In this case, oil goes to people who produce, not people who endlessly hand stuff back and forth.
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