Meathead-in-Chief declares war on oil speculators

If Obama had on day one signed an executive order for all government vehicles to immediately convert to natural gas, you would see the price of oil decline.

If he did it tomorrow, the price of oil would drop.



Quote from nutmeg:

One comment I read mentioned if Obama allowed drilling in the US, oil prices would drop.

On the flip side though, solar wind and whatever green would tank too.

I enjoy Obama being squeezed. He can't handle it. My guess he'll pop a blood vessel.
More...
 
Serious inequality doesn't happen in a market that is actually free of manipulation, influence peddling, insider trading, etc.

Behind most financial inequality you will find more going on than just hard work or brains...

Quote from TGregg:

You got it. A fundemental principle of these losers is that serious inequality of outcome means somebody cheated. Therefore, if one stops the cheating (aka fraud and manipulation) the prices will come back down. It's an easy shortcut that doesn't require much thought and is perfect for Dear Leader.
More...
 
Quote from Visaria:

You chaps aren't very good at electing presidents, are you? :p
More...

I believe it was a Brit (Sir Winston Churchill) who turned a fine phrase:

"It has been said that democracy is the worst form of government except all the others that have been tried."
 
He's looking for a headline and will do nothing of substance. Just another dog and pony show. That said, something needs to be done which allows price to reflect actual demand. Easy enough to do. Take the paper barrels out of the market. Buy oil, you must take delivery. Sell oil, you must have oil to deliver. Price will then reflect actual demand.
 
Quote from OPTIONAL777:

If Obama had on day one signed an executive order for all government vehicles to immediately convert to natural gas, you would see the price of oil decline.

If he did it tomorrow, the price of oil would drop.
More...

??

there's no way it would drop. the fact that government vehicles use petrol has jack to do with the fundamental issue at hand here. dont you read?
 
Quote from CaptainObvious:

He's looking for a headline and will do nothing of substance. Just another dog and pony show. That said, something needs to be done which allows price to reflect actual demand. Easy enough to do. Take the paper barrels out of the market. Buy oil, you must take delivery. Sell oil, you must have oil to deliver. Price will then reflect actual demand.
More...

oh? and what a about companies that have to hedge?
 
here ya go, the only chart Obumble needs.

akcs-www
 
Isn't speculation a tenant of capitalism?
Whats up with this new proposed windfall tax on oil companies and speculators? Its a free market.. if you don't like my price don't buy.

Exactly how do speculators pump up gas price? If I'm betting people will pay more and i'm right i make my profit clearing contracts. The price would be going up either way.

If the govt is so concerned or want to contain oil and gas prices than they can buy contracts at the higher market price and deliver subsidized oil to the consumers.

If they want to lower gas prices than eliminate taxes on gasoline. In January 2011, motor gasoline taxes averaged 48.1 cents per gallon and diesel fuel taxes averaged 53.1 cents per gallon. There are also a few states that charge sales tax on top of the excise taxes and the retail price. The states that have a tax on their fuel, impose a tax on commercial drivers that travel through their state, even if the fuel is not purchased in that state.

$0.50 tax per gallon means $5 / gal pump price has been set by our govt. Gas would be $2 a gallon if it were not the giant tit everyone suckles from.
 
You must log in or register to reply here.
Back
Top