Posted on 07/30/2008 2:34:30 PM PDT by ncfool
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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