Evil Oil Speculators

[Zr1Trader]

Quote from stock777:

I might have to vote for obsama. They have finally agreed with stock777 that manipulation is rampant.

If there is only 1 contract at the ask and 9 a level above that. Lets say I hit them both with 10 moving the market 2 ticks. Is that manipulation?

At what extent of movement caused by one player is it considered manipulation?

The only manipulation I'm concerned about is an algo qoute stuffing with the purpose to lag the data feed for other players .

 

[stock777]

First they agree that hft is scum, Stock777 wins

Now they agree oil scammers pump up the price, Stock777 wins again.

Whats next?

 

[JuniorCTA]

Quote from traderslair:

Joe Public: "Traders/speculators are driving up the price of oil and getting rich at the cost of all of us average americans!"

Trader: "Why don't you just buy oil futures and get rich?"

Joe Public: "Because what if it goes down? Then I lose all my money right?

Trader: "Ok, then go short and get rich!"

Joe Public: "But if it goes up then I lose all my money right?"

Trader: "Are you starting to see the flaw in your opening statement?"

Joe Public: "Uggghh, fuck you, you guys are all ruining the country!"

Trader: "Another beer please."

lol epic

 

[nutmeg]

Quote from stock777:

Whats next?

the President asked Congress for an additional $52 million for the CFTC to clamp down on speculators.

 

[oldtime]

Quote from nutmeg:

the President asked Congress for an additional $52 million for the CFTC to clamp down on speculators.

laugh if you want, he's one hell of an oil trader. He sold the reserves at $120 and presumably covered down below $90. Makes GS and Morgan look like small potatos.

 

[Chicago_CTA]

One day Barry talks about a 'military option' in dealing with one of largest crude oil exporters in the world, the one country which could kill the passage of 20mm bbd through the Strait of Hormuz;

And the next day this same man talks about evil oil speculators driving up the price.

Why are Americans so stupid as to not see what the reality is?

 

[nutmeg]

Carter: We can’t substantially increase our domestic production. The cost will keep going up.

Obama: We can’t just drill our way to lower gas prices.

Carter: We must face an unpleasant fact about energy prices. They are going up, whether we pass an energy program or not.

Obama: Anybody who says we can get gas down to 2bucks a gallon just isn’t telling the truth.

Carter: We are running out of gas and oil.

Obama: We cannot sustain a future powered by a fuel that is rapidly disappearing.

Carter: We can protect ourselves from uncertain supplies by reducing our demand for oil.

Obama: If we really want energy security and energy independence, we’ve got to start looking at how we use less oil.

Carter: We must start now to develop the new, unconventional sources of energy we will rely on in the next century.

Obama: With more research and incentives, we can break our dependence on oil.

Carter: I will soon submit legislation to Congress calling for the creation of this nation’s first solar bank, which will help us achieve the crucial goal of 20% of our energy coming from solar power.

Obama: I want to make sure when these guys are grown up that they’re seeing solar panels all across the country.

Carter: Conservation is the quickest, cheapest, most practical source of energy.

Obama: Making our buildings more energy-efficient is one of the fastest, easiest and cheapest ways to save money.

Carter: If we fail to act boldly today, then we surely face a greater series of crises tomorrow.

Obama: We have to make a serious, nationwide commitment to developing new sources of energy and we have to do it right away.

Carter: These efforts will cost money, a lot of money, and that is why Congress must enact the windfall profits tax without delay.

Obama: It’s time to end the taxpayer giveaway to an industry that’s never been more profitable, (and) invest in clean energy that’s never been more promising.

Carter: This is an effort which requires vision and cooperation for all Americans. … I can’t tell you that these measures will be easy.

Obama: Energy independence will require an all-hands-on deck effort from America. … This will not be easy, and it will not happen overnight.

 

[Lights]

Quote from oldtime:

That's all they talk about, both the left wingers and the right wingers.

For instance, "They sit there hunched over thier computers and bid up the price of oil."

Well if it's so easy, somebody show me how to do it!

I'd love to be able to just bid up the price of anything.

They complain, "And these oil traders don't even use the oil."

Show me one human being on the face of the earth involved in modern society that doesn't use oil. And everything you buy or sell uses oil, from the S&P to the crap you buy at walmart.

How come they never bitch at me when I "bid up" the price of stocks? Pension funds need stocks just as much as they need oil.

Would they bitch at me if I started "bidding up" the price of houses in their neighborhood?

I think people bitch most on oil commodity than other commodities because it is true that much of it's price inflation IS bullshit. People know oil is run by a consortium of liars who press the peak oil theory every 30 years. There is enough oil out there for a million years. Now they lie about how it's hard to extract.

We all know that oil is as plentiful as air and should really be free or just a small margin over processing

 

[oldtime]

Quote from Lights:

I think people bitch most on oil commodity than other commodities because it is true that much of it's price inflation IS bullshit. People know oil is run by a consortium of liars who press the peak oil theory every 30 years. There is enough oil out there for a million years. Now they lie about how it's hard to extract.

We all know that oil is as plentiful as air and should really be free or just a small margin over processing

you sure about that? Whatever happened to all those oil fields in Texas? Now all they have is the Oil Museum. As far as oil and air, maybe someday in Los Angeles they will have the Air Museum, and they will show pictures of people walking around without oxygen tanks.

 

[Lights]

Quote from oldtime:

you sure about that? Whatever happened to all those oil fields in Texas? Now all they have is the Oil Museum. As far as oil and air, maybe someday in Los Angeles they will have the Air Museum, and they will show pictures of people walking around without oxygen tanks.

There's oil everywhere. Like on your scalp. Drill that.