Skip to comments.Santelli: $4 Gas, $150 Oil Coming This Summer
Posted on 04/05/2010 2:14:05 PM PDT by Rufus2007
With summer driving season upon us, it's important to note that there's a traditional jump in gas prices. But will this seasonal adjustment benefit commodities, specifically oil and make the price of gasoline even higher? That could happen if those forms of energy lure investment from what seems to be an over-valued equities market, brought on by what some claim is cheap money.
On her April 5 program, "Closing Bell" host Maria Bartiromo asked CNBC's CME Group floor reporter Rick Santelli if a move higher in commodities was due to inflation. However, according to Santelli, it's not inflation but a move by investors out of a potentially over-valued equities market that will cause a rise in commodities.
"Well, you know, I don't like to link the two together," Santelli said. "I mean, many times you know, it is core [minus] food and energy. So I think throw all that away. I think the better question is, is that when people are afraid to put their money to work in treasuries, because rates may be going higher, maybe afraid that we are a little long in the tooth in the sugar-buzz rally of equities - boy, commodities is the place to be. Most of the good dollar trades probably already out there."
(Excerpt) Read more at newsbusters.org ...
I’d be willing to endure that if it would implode the Obama Regime once and for all
So why is getting off foreign oil such a problem? Oil companies own the legislature?
Nope. The basis for C&T is being laid, high prices will help “green” power making it more cost effective and the EPA will dominate our lives.
It’ll somehow turn to out to be Dubya’s fault.
It’s Cheney and Haliburton I tell you!!
I doubt that Soros wants US competition when he sells this oil--not having our own sources of oil might hurt Soros' bottom line.
Part of brocko’s motivation for saying, “Hey, I’ve got an idea; let’s drill”, was to go for the same effect “W” got when he lifted the moratorium when oil hit $147 and gas was $4.25 at the pump: the short-covering caused a price avalanche that brought oil down to $28 and unleaded down to $1.09. It ain’t gonna work. Anybody who is shrewd enough to be trading oil futures knows that brocko has no intention of drilling anywhere, anytime soon.
His other motive, of course, was to be able to say, disingenuously, that he is a centrist, and Republicans should vote with his idiotic global climate change fiasco.
He now has such a track record as a blowhard liar that none of his JUST WORDS... JUST SPEECHES... BS is resonating with anyone any more.
Exactly. Along with 0bama's recent talk about "considering possible sites" for domestic offshore drilling. It's all part of the plan.
And of course it's only a matter of time before any rise in gas prices will be reported by the MSM as “Gas Prices Unexpectedly rise...”
Gas prices unexpectedly rise, just like the Arizona weather casters are always shocked when it gets over 110 for more than a week. This same stuff happens every summer.
I swear this is true. About 7 months ago, as prices started CREEPING up, I saw a local "news" reporter stand in front of a gas station, talk about the RISING gas prices, and say, "This is good news for the economy, because it shows increased demand--and that means consumers are starting to spend again..."
I wanted to throw an ashtray through my big screen tv....this from the same "journalists" who ripped Bush everytime the average weekly price went up a penny.
The LameStream Media is on their knees for Hussein: national and local.
The only one I trust on CNBC is Santelli. The rest are the official political mouthpiece of their NBC bosses and their opinions are worthless.
anyone else remember the endless “Pain at the Pump” stories when gas his $1.99 under Bush?
What kind of car is that?
I am in agreement that Obama laid the seeds for high inflation in all commodities, including oil, when he passed the stimulus package and now the healthcare package.
With regard to oil my concern is that high oil prices give Obama a rationale for a Windfall Profits Tax and a Cap and Trade Tax.
Both of these taxes on top of healthcare taxes are the death knell for USA capitalism.
Now, more than ever, we need to stop Obama in the Senate.
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