Oil Price Fixnation

[FOTD]

Phildrip Gramm another Repukenic from Texas. This turtle-neck neo-con bares watching. I wouldn't trust him as far as I could throw him and now he is an advisor for McSame.The King of Deregulation for Corporations, Phil Gramm, in his capacity as McCain advisor, is reason enough to not support McCain for President of the US.

http://www.youtube.com/watch?v=AdRbuUQNcxw


http://electionfraudnews.com/MoneyParty/MikeWhitney.htm

There's just no other way to describe it. The idea that government regulation isn't needed is foolish. Human beings are not rational beings. The idea that markets are immune from the same irrational behavior of human beings is idiotic.

It occurs to me that it's the same irrational thought process that thinks abstinence only sex education works.

[Conan71]

quote:Originally posted by FOTD


There's just no other way to describe it. I am not a rational being and idiotic.

It occurs to me that it's my same irrational thought process that works.

True Dat FOTD.

[Gaspar]

Time for Oberman to move-on to the Daily Show.  Better format for goofy news.

[FOTD]

Conman.....please explain how you can lie and deceive like that. It's idiotic to ruin a thread, the credibility of this forum and the notion you might sometimes add something positive to these discussions.

Gaspar, Olbermann is the best countdown to a sea change we've had on tee wee sinc Izzy Stone. Don't be dismissive of truth and honesty. It makes you look like an angel from the repiglican potty......

[Gaspar]

quote:Originally posted by FOTD



Gaspar, Olbermann is the best countdown to a sea change we've had on tee wee sinc Izzy Stone. Don't be dismissive of truth and honesty. It makes you look like an angel from the repiglican potty......

I like you FOTD!  You make me look good! [8D]

[Conan71]

quote:Originally posted by FOTD

Conman.....please explain how you can lie and deceive like that. It's idiotic to ruin a thread, the credibility of this forum and the notion you might sometimes add something positive to these discussions.

Gaspar, Olbermann is the best countdown to a sea change we've had on tee wee sinc Izzy Stone. Don't be dismissive of truth and honesty. It makes you look like an angel from the repiglican potty......

It's Conit damn it.  Sorry, I couldn't resist having a little fun with your quote.  I'm prone to a sophomoric prank every now and then.

I do think penalizing oil companies is the wrong direction if the government is going to crack down on anyone.  The true excessive profits are going to the speculators and traders who never even touch the black stuff.

There's no shortage of people making money off oil right now.  So there's a lot of people and companies who would have a vested interest in the high profiteering, not just the seven sisters.

[FOTD]

The big profits are going to many independent operator/producers who have the ability to make delivery if the price drops. Actually, they might be making off like bandits while hedging their bets so they can keep the bubble inflated.

Yesterday, the US government handed the big oilies the rights to Iraq's reserves with no bid contracts granted. Mission accomplished now. What will this lead to?

"a cynical political calculation".... Krugman nails it: "the gang that couldn't think straight "!Everything it seems is happening as planned, from 9/11, to the war, to the high prices for oil, the essential ingredient to almost everything. They definately reinflated our economy.

http://www.nytimes.com/2008/06/20/opinion/20krugman.html?_r=1&oref=slogin

[FOTD]

McCain and Bush, oil opportunists
It's nonsense for them to use the run-up in gas prices as an excuse to advocate offshore drilling.

June 21, 2008


President Bush and presumptive Republican presidential nominee John McCain both recently proposed an end to the federal moratorium on offshore oil drilling. What's really needed, though, is a moratorium on worthless suggestions from politicians for lowering gas prices.

GOP leaders like Bush and McCain are rolling out their own nonsensical non-solutions to the energy crisis after the Senate this month beat back an equally ridiculous attempt at gas-pump pandering by Democrats. Their bill would have hampered investment in new supply by imposing a shortsighted windfall-profits tax on oil companies, and it might have set off a trade war by allowing the U.S. attorney general to sue OPEC on antitrust grounds. Fortunately for the country, it failed to win enough votes to avoid a filibuster.

Enter Bush, who on Wednesday said he would end his father's 1990 presidential moratorium on most coastal drilling if Congress would lift its own, separate ban. His reasoning was so contradictory that it's a wonder he could finish his news conference without cracking up. While conceding that the long-term solution to high oil prices is to pursue alternative energy sources, he argued that "in the short run, the American economy will continue to rely largely on oil, and that means we need to increase supply." The U.S. Energy Information Administration says that even if oil companies are allowed to tap the 18 billion barrels under coastal waters that are currently off-limits, oil prices wouldn't be expected to fall until 2030. How is that a short-term solution?

Coastal drilling isn't just opposed by a bunch of Prius-driving greenies from Santa Barbara. Existing moratoriums were put in place at the behest of tourism interests, fishermen, small businesses and coastal dwellers. That's because drilling in these waters benefits oil companies but causes direct economic harm to everyone else by trashing beaches, poisoning marine life and ruining views.

Californians have been leery of coastal drilling since a devastating spill from an oil platform off Santa Barbara in 1969. Drilling proponents counter that new technology has greatly decreased the risk of spills, but they nonetheless still happen. And there's more to worry about than spills. Texas is not known for its beaches, which attract the detritus -- such as tar balls and empty oil drums -- from thousands of oil platforms in the Gulf of Mexico. Drilling releases a host of toxic chemicals, creating such problems as dangerously high mercury levels in fish.

The destruction of our coasts is too high a price to pay for a negligible decrease in gas prices that's 20 years down the road. The latest Republican oil strategy deserves the same fate as the Democrats'.

http://www.latimes.com/news/printedition/asection/la-ed-oil21-2008jun21,0,7675894.story

[Rico]

quote:Originally posted by Conan71

quote:Originally posted by FOTD

Conman.....please explain how you can lie and deceive like that. It's idiotic to ruin a thread, the credibility of this forum and the notion you might sometimes add something positive to these discussions.

Gaspar, Olbermann is the best countdown to a sea change we've had on tee wee sinc Izzy Stone. Don't be dismissive of truth and honesty. It makes you look like an angel from the repiglican potty......

It's Conit damn it.  Sorry, I couldn't resist having a little fun with your quote.  I'm prone to a sophomoric prank every now and then.

I do think penalizing oil companies is the wrong direction if the government is going to crack down on anyone.  The true excessive profits are going to the speculators and traders who never even touch the black stuff.

There's no shortage of people making money off oil right now.  So there's a lot of people and companies who would have a vested interest in the high profiteering, not just the seven sisters.

Very true....^^

This oil thing reminds me of when "Bunky" Hunt bought up all the silver to drive the silver market sky high....

Just when it was starting to work he got busted........

The oil thing is more spread around.. therefore, not as easy to point a finger at a single cause..

[FOTD]

Not as easy to point a finger at one congressman (or one lobbyist), one corporation, or one investment banker is a better way to sum it up.

[Red Arrow]

To drill or not to drill? What is the price to society? If society chooses not to drill, not to build refineries, not to build nuclear power plants, then "we" need to be prepared to pay a high price for energy.  If society chooses to be risk free to the environment, stop complaining about the cost of energy.  

The little guy feels the pinch the most.  The rich will always be able to afford energy.  A managable risk to the environment may be acceptable to keep the middle class from becoming destitute, the less fortunate from becoming even less fortunate.  What price are YOU willing to pay until alternate energy is available?  What is YOUR choice?  It has nothing to do with political parties.

Before modern conveniences, people died from extreme heat and cold. There are parts of the world, especially this country, that are not inhabitable without heating and airconditioning.  Tulsa has free airconditoners for the elderly and otherwise needy. Do you want to let them die in the name of the environment?  "Our" choices in the past have made the automobile necessary for transportation. This will not change overnight.  We need to change but we also need to make the transition as smooth as possible.

[FOTD]

It can change in a rational way with the proper leadership. This country has the ability to fight this costly energy policy.

Obama Release on "Enron Loophole"
http://thepage.time.com/obama-release-on-enron-loophole/

"For the past years, our energy policy in this country has been simply to let the special interests have their way—opening up loopholes for the oil companies and speculators so that they could reap record profits while the rest of us pay $4.00 a gallon," Senator Obama said. "My plan fully closes the Enron Loophole and restores common-sense regulation as part of my broader plan to ease the burden for struggling families today while investing in a better future."

Why Doesn't the Press Ever Talk About the Oil?

http://www.huffingtonpost.com/cenk-uygur/why-doesnt-the-press-ever_b_108082.html

"Former chief executive of Exxon, Lee Raymond, explained the history behind it. "There is an enormous amount of oil in Iraq," he said. "We were part of the consortium, the four companies that were there when Saddam Hussein threw us out, and we basically had the whole country."

"Well, congratulations, you now have it back! Mission accomplished!"

and there's this issue.....even AhNold has a problem with this one:

Tulsan hopes skyrocketing oil prices finally spur offshore drilling

http://www.tulsaworld.com/news/article.aspx?articleID=20080620_16_A1_spancl282535

[FOTD]

http://www.reuters.com/article/politicsNews/idUSN2243134220080622

Obama vows to crack down on oil speculation

"Obama's plan aims to close the so-called Enron loophole, which exempts some energy speculators who trade electronically from U.S. regulation. It takes its name from the now-collapsed energy firm that benefited from the law.

Obama would require U.S. energy futures to trade on regulated exchanges. The campaign also said he backed legislation that would direct the Commodity Futures Trading Commission, the top U.S. futures market regulator, to investigate proposals such as increasing margin requirements in the market.

In addition, the Illinois senator wants to see more transparency and oversight of institutional investors in commodities markets."


Looks like a leader....

[Hometown]

Wouldn't it make sense to exploit other nations' oil and hang onto ours until the bitter end when it has gotten really, really, really expensive?  

Meanwhile, I'm reminded of the energy crisis and the rolling blackouts in California.  I'm reminded of energy industry traders deliberately manipulating the price of electricity and creating situations that would lead to rolling blackouts in California.  Hard to believe that one American would pull this s*** on other Americans, but that is what close to 30 years of a Republican era has done our ethics.  I've watched one blue chip corporation after another sink into predatory capitalism and fly-by-night tactics.  It's not just oil by a long shot.  Guess what?  You can't trust anyone any more.  I say take a closer look at the speculators and energy industry insiders' jerry rigging conditions to create a higher price.

Does this mean we want the Democratic Party to have an adversarial relationship with energy?  No.  We want to work with energy, we want to build bridges to the industry, and we want the benefit of their money freely donated to our causes.  We want to demonstrate that being a good citizen and being smart is also good for the bottom line.

What we need is enforcement of antitrust laws and where needed re-regulation of the energy industry.  We don't want a windfall profits tax unfairly applied to one American industry.

[Conan71]

FOTD,

Did you read the whole article?

"The truth is Barack Obama is following John McCain's lead to close a Wall Street loophole that was signed into law by President Bill Clinton," said McCain spokesman Tucker Bounds."

If Obama is such a revoutionary, why hasn't he or isn't he leading the charge to change this as a Senator?  Are his ambitions getting in the way of his day job?