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Tatalah Champion Author Riverside Posts:11,610 Points:2,463,120 Joined:May 2003	Message Posted: Apr 17, 2012 11:33:06 AM Ignore Tatalah Report Abuse This is bull. Since when do speculators control oil prices? I would love to see somebody go after big oil. Unfortunately any politician the would go after them will be fired or die. [L=http://www.huffingtonpost.com/2012/04/17/text deleted/L] [Edited by: Tatalah at 4/17/2012 2:34:28 PM EST]

Tatalah

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Riverside

Posts:11,610
Points:2,463,120
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Message Posted: Apr 17, 2012 11:33:06 AM

Ignore Tatalah Report Abuse

This is bull. Since when do speculators control oil prices? I would love to see somebody go after big oil. Unfortunately any politician the would go after them will be fired or die.
[L=http://www.huffingtonpost.com/2012/04/17/text deleted/L]

[Edited by: Tatalah at 4/17/2012 2:34:28 PM EST]

REPLIES (newest first)Ignore Short Messages

grampi47 Champion Author Illinois Posts:5,939 Points:78,865 Joined:Apr 2006	Message Posted: Apr 21, 2012 10:21:18 AM Ignore grampi47 Report Abuse Speculation DOES greatly effect price, and will continue to do so until some more stringent controls are placed on specualtion....
Houckster Champion Author Atlanta Posts:9,345 Points:693,460 Joined:Sep 2003	Message Posted: Apr 21, 2012 7:26:08 AM Ignore Houckster Report Abuse TATALAH writes: Oil is a world market. Demand is not decreasing. Speculators make money and speculators lose money. It is like any other commodity or stock. Goes up and goes down and is manipulated by the in crowd. _____ On the PBS News Hour, there was a discussion of high gas prices and it was estimated that speculation adds about $25 to the cost of a barrel of oil. And oil is NOT like any other commodity due to the broad need for it. If the cost of pork bellies goes up, and bacon becomes expensive, I can do without but I can't do without oil if my job is only reachable by car or by any other conveyance that requires oil. The impact of high cost oil ripples through the economy unlike any other commodity and because of this it needs to be treated differently. Right now, high oil costs are threatening the world-wide recovery and we cannot afford to fall back into recession. [Edited by: Houckster at 4/21/2012 10:26:52 AM EST]
Tatalah Champion Author Riverside Posts:11,610 Points:2,463,120 Joined:May 2003	Message Posted: Apr 20, 2012 7:57:28 PM Ignore Tatalah Report Abuse forresj says: "Currently, oil supplies are high and demand is decreasing in the United States but prices are climbing, speculators are the blame." Oil is a world market. Demand is not decreasing. Speculators make money and speculators lose money. It is like any other commodity or stock. Goes up and goes down and is manipulated by the in crowd. [Edited by: Tatalah at 4/20/2012 10:58:41 PM EST]
Nitecrew Champion Author Fresno Posts:8,887 Points:2,116,400 Joined:Feb 2003	Message Posted: Apr 20, 2012 11:37:46 AM Ignore Nitecrew Report Abuse Maybe the OP might want to read the news articles today, on this site, stating the fine(14 mil) given speculators for manipulating the price of oil
Houckster Champion Author Atlanta Posts:9,345 Points:693,460 Joined:Sep 2003	Message Posted: Apr 20, 2012 11:21:04 AM Ignore Houckster Report Abuse The Right will accuse Mr. Obama of not doing anything if he lets the market determine the price which is exactly what they would do. If Mr. Obama intervenes too much, they'll accuse him of being a socialist. And does the Right have a plan to bring prices down? They're still as clueless as they were when Mr. Bush was president BUT they'll play both sides of the fence to get back into office. ***** ALTIMA2008 writes: Nobama should just keep his mouth shut! _____ Good advice for you too ALTIMA2008.
fatfed Champion Author San Antonio Posts:2,865 Points:476,415 Joined:Dec 2011	Message Posted: Apr 20, 2012 8:15:06 AM Ignore fatfed Report Abuse He not going to do a thing about gas prices
forresj Champion Author Wilmington Posts:2,783 Points:543,255 Joined:May 2005	Message Posted: Apr 20, 2012 7:47:33 AM Ignore forresj Report Abuse Currently, oil supplies are high and demand is decreasing in the United States but prices are climbing, speculators are the blame. In 2008, oil prices surged 25% but demand didn't rise nearly has high. Speculators are the blame.
Gas_Eyes Champion Author Dallas Posts:2,677 Points:644,860 Joined:Mar 2011	Message Posted: Apr 20, 2012 7:38:25 AM Ignore Gas_Eyes Report Abuse Obama is just playing politics here by pushing the legislators to go after the speculators. He knows that they are going to ignore him. Let's see how hard he pushes on this.
Tatalah Champion Author Riverside Posts:11,610 Points:2,463,120 Joined:May 2003	Message Posted: Apr 20, 2012 7:25:34 AM Ignore Tatalah Report Abuse tropicalmn You have the best observation. There is enough natural gas, in reserve, in the USA to power all of our vehicles. Do you think big oil would let us switch over to it?
NickoliMB Champion Author Manitoba Posts:2,508 Points:471,255 Joined:Dec 2011	Message Posted: Apr 20, 2012 6:30:51 AM Ignore NickoliMB Report Abuse Has to do something to gain popularity and get back up in the polls.
altima2008 Champion Author Philadelphia Posts:8,165 Points:1,737,990 Joined:Apr 2008	Message Posted: Apr 19, 2012 8:08:33 PM Ignore altima2008 Report Abuse Nobama should just keep his mouth shut!
PatAZ Champion Author Tucson Posts:9,249 Points:122,380 Joined:May 2008	Message Posted: Apr 19, 2012 7:36:10 PM Ignore PatAZ Report Abuse He is just pandering again, no real hope or change.
tropicalmn Sophomore Author Minnesota Posts:172 Points:145,965 Joined:Mar 2011	Message Posted: Apr 19, 2012 11:08:21 AM Ignore tropicalmn Report Abuse So is the President also going to go after the speculators influencing record low natural gas prices???
coffeerage Champion Author Las Vegas Posts:1,608 Points:250,000 Joined:Oct 2005	Message Posted: Apr 19, 2012 11:07:07 AM Ignore coffeerage Report Abuse obama goes after golf balls on the golf course, usually when there's a crisis.
PithyOpiner Champion Author Stockton Posts:16,205 Points:1,597,545 Joined:Jun 2008	Message Posted: Apr 19, 2012 9:59:12 AM Ignore PithyOpiner Report Abuse Tatalah, I am now an assistant to one of those big oil guys and I want you to know we know who you are. We will be keeping an eye on you going forward. If you see a car that has been behind you for a while, it is most likely us doing just that.
Tatalah Champion Author Riverside Posts:11,610 Points:2,463,120 Joined:May 2003	Message Posted: Apr 19, 2012 8:09:09 AM Ignore Tatalah Report Abuse 1. Now prices are dropping slightly,let's blame speculators. 2. No matter which dupe is elected we are screwed by big oil. Is this a wrong observation? When a new president is elected and the have "the meeting with world leaders" . usually at Camp David, the new president is given his orders by those world leaders. These leaders are now big oil. Used to include The Rothchilds, The Rockefellers and The Duponts. I don't know who they all are now but you dupe voters voted for them.
brerrabbitTX Champion Author Houston Posts:1,030 Points:18,285 Joined:Mar 2011	Message Posted: Apr 18, 2012 11:02:42 AM Ignore brerrabbitTX Report Abuse Houckster, First, I agree with you and have advocated as much many times that the President can do virtually nothing to control oil and gas costs. Secondly even though you say that the story I related does not stand up to scrutiny, I can tell you that I am friends with and work with a gentleman who was present at that meeting. The Oil executive is actually a large Democratic supporter and whether anyone believes it or not, it happened. Third, I do not present the story to say that Obama does not care about the issue but rather to point out that his latest announcement to go after market manipulators and spend $52 million for enhanced enforcement is nothing more than an election year stunt to appease voters. The fact is he had the confidence to share with the Democratic Oil Executive that high prices would merely help his alternative energy push and then come out yesterday saying he is going to stop manipulation and enforce rules that might, key phrase, might help abate prices somewhat. What I was attempting to demonstrate is that in fact prices are what prices are and any politicians words to say that they are going to do something about it, from Obama investigating market manipulation to Newt Gingrich saying he could lower prices to $2.50 are all a load of crap and you should never believe any of them can truly affect prices.
Houckster Champion Author Atlanta Posts:9,345 Points:693,460 Joined:Sep 2003	Message Posted: Apr 18, 2012 10:57:14 AM Ignore Houckster Report Abuse Tatalah, your comments are simply silliness personified at best and a form of paranoia at worst. Just what do you want? Nationalize Big Oil? No one's going to support that. Isn't trying to push for alternative energies as Mr. Obama has tried to do a first step? You can sit on the sidelines and turn up your nose or you can get more realistic and accept that no candidate is perfect and vote for the one who is trying to do the best job. Not voting is what the Right wants you to do. The more people who opt out of the system, the easier it is for them to do what they want.
Tatalah Champion Author Riverside Posts:11,610 Points:2,463,120 Joined:May 2003	Message Posted: Apr 18, 2012 10:10:51 AM Ignore Tatalah Report Abuse Don't you dupes realize that big oil runs the world? You get 2 or 3 choices of oil company stooges. It doesn't matter one iota which idiot you elect. Try NOT voting for an oil company stooge. A non vote is a protest against this horrible, flawed, system.
emtrob2012 All-Star Author Myrtle Beach Posts:908 Points:149,930 Joined:Jan 2012	Message Posted: Apr 17, 2012 9:07:56 PM Ignore emtrob2012 Report Abuse he is partially to blame for the problems
Houckster Champion Author Atlanta Posts:9,345 Points:693,460 Joined:Sep 2003	Message Posted: Apr 17, 2012 8:25:46 PM Ignore Houckster Report Abuse TATALAH writes: houkster I tried 3 times to make the link work. It would not. I have a sneaking suspicion of how to post a link. _______ I did it in three minutes but deleted the link when it didn't work any longer. Defunct Huffington Post Link [Edited by: Houckster at 4/17/2012 11:27:53 PM EST]
Houckster Champion Author Atlanta Posts:9,345 Points:693,460 Joined:Sep 2003	Message Posted: Apr 17, 2012 8:23:25 PM Ignore Houckster Report Abuse BRERRABBIT writes: And just so no one here actually believes that Obama cares about gas prices let me tell you this. In 2008 when he was running for President he met with an ex CEO of a major oil company. During that time the executive told him in no uncertain terms that if he did not act immediatley upon entering office to curb gas prices through opening up drilling and enacting certain policies that gas would near $5 a gallon. The then candidate's response was I don't care that would just help puch my alternative fuel initiatives. Seems Mr President has gotten exactley what he wanted now doesn't it? _____ Sorry but this just doesn't stand up to any scrutiny whatever. First, can anyone believe that with someone as friendly to Big Oil as Mr. Bush was that it would be necessary for Mr. Obama to "to curb gas prices through opening up drilling and enacting certain policies"? Really now! Never mind that for the years since he took office oil production on federal property has actually been greater than during the Bush years except for 2011 when the Deepwater Horizon crisis stunted production. It's not about the truth for the Right, it's about beating Mr. Obama and they're happy to lie about it. These guys would make ole Joe Goebbels proud. High gas prices are a fact of life that Mr. Obama can't change. It's due to three main causes: 1) speculation that adds about $25 to the price of a barrel of oil; 2) Middle East unrest, and 3) competition from China and India. Mr. Obama has done nothing to increase prices. When the opposition is asked to document what he's done, the room gets very quiet.
gougenator Champion Author Dallas Posts:29,861 Points:3,245,900 Joined:Aug 2003	Message Posted: Apr 17, 2012 8:21:16 PM Ignore gougenator Report Abuse heres a link to a similar article Obama going after the speculators and market manipulation article
alphanyr Champion Author Connecticut Posts:4,830 Points:676,500 Joined:Apr 2011	Message Posted: Apr 17, 2012 2:41:38 PM Ignore alphanyr Report Abuse he doesn't have a clue...but the shame of it is he has 60% of the voters thinking he can solve their problems
Tatalah Champion Author Riverside Posts:11,610 Points:2,463,120 Joined:May 2003	Message Posted: Apr 17, 2012 2:34:27 PM Ignore Tatalah Report Abuse houkster I tried 3 times to make the link work. It would not. I have a sneaking suspicion of how to post a link. brerrabbit Now I think that big oil is not goughing us. Thanks for the post. The friendly dinasaur ads now make me believe that big oil is not willing to murder, gough and use any other means at their disposal to inflate their prices and profits.
brerrabbitTX Champion Author Houston Posts:1,030 Points:18,285 Joined:Mar 2011	Message Posted: Apr 17, 2012 1:24:56 PM Ignore brerrabbitTX Report Abuse And just so no one here actually believes that Obama cares about gas prices let me tell you this. In 2008 when he was running for President he met with an ex CEO of a major oil company. During that time the executive told him in no uncertain terms that if he did not act immediatley upon entering office to curb gas prices through opening up drilling and enacting certain policies that gas would near $5 a gallon. The then candidate's response was I don't care that would just help puch my alternative fuel initiatives. Seems Mr President has gotten exactley what he wanted now doesn't it?
brerrabbitTX Champion Author Houston Posts:1,030 Points:18,285 Joined:Mar 2011	Message Posted: Apr 17, 2012 1:09:27 PM Ignore brerrabbitTX Report Abuse Go after big oil for what? Prices for oil are set on openly traded commodities markets where in actuality big oil plays very little. The market sets the price for oil, not the oil companies. You tell me if you own a business that has to buy oil at $120 a barrel (Brent Traded Crude) pay $10 a barrel to ship it to their refinery and starts at a per gallon price of crude at $3.095 then runs it through a multi billion dollar refinery, ships it to a terminal via pipeline, puts it into trucks and delivers it to gas stations and each step in the process has to show a little profit you can make money selling it for $3.99 a gallon? Keeping in mind that on average 40 cents of that $3.99 price is taxes. That means there is 50 cents to cover everyone's profit, refining, pipeline moves, and trucking costs. Think you can do it and stay in business? Go for it!
Houckster Champion Author Atlanta Posts:9,345 Points:693,460 Joined:Sep 2003	Message Posted: Apr 17, 2012 11:55:12 AM Ignore Houckster Report Abuse Gosh after 9,234 post, you should at least be able to post a link properly. Unfortunately this link doesn't work any longer. [Edited by: Houckster at 4/17/2012 2:58:51 PM EST]