Abolish oil futures now

[Runningbear]

Overpriced oil is a good thing. It allows cleaner and ultimately more sustainable energy sources to gain a foothold in the market.

It also discorages idiots from buying SUV's with 9 litre V8s.

Runningbear

 

[Bear Plunger]

Quote from Cesko:


Why these lefty types come to this site is beyond me (and there are lots of them here).

True true....it's funny how they find their way onto here. Thank god people like this end up getting 'swept under the rug'.

I sleep well at night knowing that their screams will ultimately go un-noticed....huff huff.

 

[MajorUrsa]

Quote from Bear Plunger:

True true....it's funny how they find their way onto here. Thank god people like this end up getting 'swept under the rug'.

I sleep well at night knowing that their screams will ultimately go un-noticed....huff huff.

Yes, I have contemplated to stop thinking as well, but I decided that there are enough ignorants around already. It sounds like a bliss though, thinking only about your own good about 2 days into the future.

Ursa..

 

[moo]

Ron,

Instead of whining you could have shorted oil and profited handsomely from the stupidity of the oil bulls you are blaming.

Is that too difficult?

 

[Bear Plunger]

Quote from moo:

Ron,

Instead of whining you could have shorted oil and profited handsomely from the stupidity of the oil bulls you are blaming.

Is that too difficult?

Plus most of those fat bulls can afford to lose their money. It's not like we are shorting people on welfare.

 

[Dr.Greenback]

Quote from Cesko:


I wonder if you guys have a clue what attracts foreign money to any domestic market.

Of course they don't that's why they haven't responded.

It's just more BS from the Left.

 

[petrotrader]

Quote from ronblack:

My 2 cents:

Oil futures trading must be terminated. There is plenty of oil supply yet prices are rising like no other while many in the industry are talking about market manipulation using futures trading, something along the lines of what Amarath tried to do with the natural gas prices.

Counterparty forward agreements can be used in place of futures for accomplishing the same things, like future delivery, hedging, etc. This will immediately sqeeze speculators out of the market.

Stock prices, inflation, the dollar etc are feeling the impact of the artificially high oil prices while some oil producing countries and corporations have trouble finding a place to store the huge amount of cash they accumulate at the detriment of the consumer.

At the same time, Europeans are acting like cowards again and they do nothing because they have a high tax on oil and oil products and use the proceeds to finance their highly corrupted and heavy on public sector states.

Something must be done before inflation starts spiking up and prices skyrocket beyond control. It happened before and it will happened now with severe impact on equity prices and purchasing power in general.

Are the people that rule this country sleeping or what?

Ron

I don't have time to read the entire thread but a few thoughts...

If you attempt to place additional regulations on oil futures the activity will simply shift to another venue i.e. ICE, OTC voice brokers, etc.

Many of the really LARGE speculators in crude have the capital to trade OTC so you're not going to squeeze them out of the market.

Regarding your comments on equities, USD, etc what's your point? Oil is a global market.

As far as Europe, you're clearly only seeing the trees, check out the forest.

Regarding something needing to be done to curb inflation, dampen the impact to equities, I agree but from a different angle, I would roll out the red carpet for a recession.

Yes, the people that run our country are asleep but that's the way it will be unless the people revolt. Good luck...

 

[lorax2013]

Thanks a lot Ron, I felt my IQ drop 2 points just reading your post.

 

[jd7419]

Quote from ronblack:

My 2 cents:

Oil futures trading must be terminated. There is plenty of oil supply yet prices are rising like no other while many in the industry are talking about market manipulation using futures trading, something along the lines of what Amarath tried to do with the natural gas prices.

Counterparty forward agreements can be used in place of futures for accomplishing the same things, like future delivery, hedging, etc. This will immediately sqeeze speculators out of the market.

Stock prices, inflation, the dollar etc are feeling the impact of the artificially high oil prices while some oil producing countries and corporations have trouble finding a place to store the huge amount of cash they accumulate at the detriment of the consumer.

At the same time, Europeans are acting like cowards again and they do nothing because they have a high tax on oil and oil products and use the proceeds to finance their highly corrupted and heavy on public sector states.

Something must be done before inflation starts spiking up and prices skyrocket beyond control. It happened before and it will happened now with severe impact on equity prices and purchasing power in general.

Are the people that rule this country sleeping or what?

Ron

Thank you for me making me lose about 20 points of iq reading your post.

 

[rcanfiel]

Quote from MajorUrsa:

Also the US has, to my knowledge, the most expensive and wastefull public sector, aka the Ministry of Defense. The whole of EUR combined spends less than half as much on their military as the US does.

Just noticed this stupid comment. Could this be the same wasteful USA that had to bail out Europe twice, because they couldn't counter Germany on their own? How long did France hold out against Hitler? How many American ships were lost to Uboats, trying to keep Britain supplied? And the same wasteful USA that had to rebuild Europe because they were such a fouled up mess?

It was the european allies who tried to exact revenge on WW1 germany, that partly caused the animosity and desparation that led to WW2.

During the war in the Pacific, according to Jane's Fighting Ships, it was the wasteful USA that sank over 96% of Japanese shipping. The goold old british sank a couple percent, and I think the Dutch sank 1 or 2.