Skip to comments.No conspiracy likely in rising gas prices
Posted on 03/24/2012 5:50:32 PM PDT by SmithL
You may not have realized it, but the current run-up in oil and gasoline prices is actually a right-wing plot to oust President Obama.
Big oil companies and/or Wall Street speculators have inflated prices to foment voter unrest and help Republicans seize the White House this fall. The possibility of armed conflict between Israel and Iran has nothing to do with it, or is a contributing factor at best.
This theory has been echoing across the blogosphere for weeks now. The most detailed version appeared on the widely read Daily Kos blog, which included a lengthy post on Feb. 26 warning that "some are seeing an intentional manipulation by the most reactionary sectors of the petro-oligarchy to undermine Obama."
Variations of the same basic theory have appeared in prior election years. And to most oil market observers, it's bunk.
"This is just crazy," said John Kingston, director of news for the Platts energy information service. "I don't even know what to say about it."
Analysts consider it a modern myth, one of many conspiracy theories that have found a nurturing home on the Internet. Like many conspiracy theories, it feeds off helplessness and anger. And it taps the cynicism that comes from hearing different public figures and experts come up with wildly different explanations for high prices.
"You'll talk to some Republicans, and they'll say it's the Environmental Protection Agency," said Tyson Slocum, head of the energy program at the Public Citizen watchdog group. "Someone else will say it's Iran. Someone else will say it's China, or our love of SUVs."
Slocum is a fierce critic of oil market speculation, and blames banks and other large investors for creating wild price swings. But he doesn't see a political agenda in their trades - only the pursuit of profits.
(Excerpt) Read more at sfgate.com ...
Warren Buffett lost a billion dollars trying to run the price of oil up in 2008.
Straight from the jackass' mouth.
"I made at least one major mistake of commission and several lesser ones that also hurt," he said. "Furthermore, I made some errors of omission, sucking my thumb when new facts came in that should have caused me to re-examine my thinking and promptly take action."
That "major mistake," Buffett writes, was the purchase of millions of shares of ConocoPhillips oil company when oil prices were near their peak.
"I still believe the odds are good that oil sells far higher in the future than the current $40-$50 price. But so far I have been dead wrong," Buffet writes. "Even if prices should rise, moreover, the terrible timing of my purchase has cost Berkshire several billion dollars."
But hey listen to the MSM, he has nothing to do with it.
when you cut the value of the dollar in half...
everything doubles in price
is this so complicated to figure out?
Less than 30 days ago, we were paying $3.39/gallon, so prices have gone up $1.20/gallon here.
I know the pain it will costs (including my own small business) but the very real possibility that this could help tilt the scales and lead to the ouster of our FASCIST, Neo-Commie, Community Agitator in Least, would be a small (and temporary) price to pay to save our Republic from a certain destruction.
No pain--no gain!
Let the upward price spiral begin.
The conspiracy is from the left.
1000 different summer and winter blends
restricting drilling and making it as expensive as possible
there is even a tax per gallon for failure to use technology that doesn’t exist
You may not have realized it, but the current run-up in oil and gasoline prices is actually a LEFT WING right-wing plot to REELECT oust President Obama.
And everything you said is because of liberal policies.
That BO is suffering the slings and arrows from the
masses regarding massive fuel price increases
can be attributed to at least two things. The
first that comes to mind is that the Dems and the MSM
convinced many that Pres Bush had the power to
influence the oil price. The second is Obama’s own
statements regarding his distain for fossil fuels.
As you sew so shall you reap.
I’m told gas prices in Mexico is around $3.05/gal (converted). But don’t forget that gas from Mexico is controlled by their government.
Maybe we should follow their lead when we get our new President?
Newt said he would get gas prices down to $2.50/gal. Go Newt!
Their language is exactly like something you'd see in Pravda in the 1930s.
In 2008 Obama’s buddy Warren Buffett was running up the gas prices and the presstitues at CNN were speculating that oil to rise to $200 or even $400 a barrel, all while they claimed it was Bush-Cheney and their “oil buddies” getting rich off the public.
No idea if Buffett is still speculating, knowing his pal and the Energy Czar are there to keep prices over $5 a gallon this summer.