Posted on 07/30/2008 2:34:30 PM PDT by ncfool
just thought you would appreciate seeing the update I just received
from the Stop Oil Speculation Now coalition that we joined. I know many of you have used the SOS Now website to contact your Senators and Congressman...
I certainly have and I applaud you. There are many political games being played by Democrats surrounding this oil speculation legislation that have complicated the bill's progress.
We all need to continue to push, but action on this may be delayed until September following the August congressional recess unless we hit them with more email.
-----Original Message-----
From: Phil Singer [mailto:phil@marathonstrategies.com]
Sent: Wednesday, July 30, 2008 12:30 PM
To:
Subject: New Ad -- please post on website!
Since its launch earlier this month, the SOS Now effort has generated
1.5 million messages to Congress from concerned citizens. The outcry
has been so extraordinary that we've heard that the Senate email
servers have experienced unusually high volumes of traffic at times.
In an effort to keep the drumbeat going, the coalition is running the
attached ad this week in The Hill, Politico and Roll Call.
In order to maximize the reach of the ad, we are asking members and
supporters of the SOS Now coalition to place a websticker featuring the
ad on their respective websites. The following link will take you to
the websticker: http://capwiz.com/sosnow/remotecontent/
All you need to do is copy the html code from this page and paste it
into your Website for the ad to appear. Please note there are two new
webstickers to choose from - one has the recess time sensitive text and
the other is more general.
Please email with any questions and let me know if you have other ideas
for pressing the case.
Phil
I’ve seen the petitions. No way do I support what they are doing. The Democrats would like nothing better than to jump in and take over the markets. Speculators = investors. Better rethink this one.
btw, I like the high oil prices for the time being. It has finally waken up America to domestic drilling. I hope it stays up until we change the policy.
Good post........
ping
If we killed NYMEX, trading would simply go abroad. This would be both counterproductive and ineffective.
If Moore doesn’t understand that we need to be drilling....he’s a maroon...and not worthy of your time.
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I am the probably the only conservative freeper that agrees with you. Speculation involves investors and funds who borrow money to bet on the price of oil in the future. Many of these investors are fully leveraged, thus if they bet wrong (like a bubble) they are forced to sell good stocks in their portfolio to cover the losses in their bets, thus causing good stocks to drop in price and distorting the stock market. Speculators do get hurt when they bet wrong, but they also exasperate the prices of commodities when shortages occur, thus causing periods of instability to the US economy. To this day I do not see the economic sense of speculators other than a form of gambling, but unlike Las Vegas, it impacts the US economy if it is excessive and widespread. We built a nation over two hundred years ago on honest work, long term planning, frugality and efficiency, and also created depressions and panics due to speculation and leveraging. I think history has spoken and illustrated the folly of the system.
I received a questionnaire from the McCain people.
I just wrote on it Drill ANWR, sealed it up and sent it back to them.
Oh yeah, DRILL!!!!
This is a joke, right? You have fallen for some dopey tripe from liberals??? Good grief. Get some help. And fast. While you are at it, study up a bit on FREE markets.
That is only part of the solution.
Reid and Pelosi’s 527s in action
Nope.. oil speculation isn’t the problem. Not drilling ANWR, offshore on all coasts, and not building 50 more refineries is the problem.
Speculators perform an important function in the markets, namely, by providing liquidity. Order flow is important. Furthermore, if something can be bought and sold by someone, in a free country it ought to be able to be bought and sold by everyone. The city of Denver has locked in its price for gasoline by hedging, which is to say, buying futures contracts for later delivery at a fixed price, which is exactly what futures contracts are supposed to do, and which by the way is speculation. If the city of Denver can do this, why not any private citizen? Or do you think the city of Denver shouldn’t be able to do this? (In which case, why have a futures market at all?)
Heard of Freakonomics?...this is Stupidnomics.
Instead tell Congress DRILL HERE!!! DRILL NOW!!!
Uh, drill now. Speculation is a necessary part of any market. If we increase supply those speculating on higher prices will be the ones who take it in the shorts.
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