NAncy pelosi thinks rising gasoline price is due to speculators

staffpro · Feb 23, 2012

http://www.zerohedge.com/news/nancy-pelosi-issues-statement-soaring-gas-prices

jesus christ every day i am surprised again by how incredibly stupid some people are it makes me want to kill myself, really .

Scataphagos · Feb 23, 2012

Pelosi doesn't really "think"... she merely spews Socialist propaganda.

I'd go for $10/gal gas if it would assure getting rid of Odumbo, Reid, Peolsi, et al in the next election.

Free Thinker · Feb 23, 2012

Quote from staffpro:

it makes me want to kill myself, r...that-speculation-drives-oil-prices-listen-up/

As Goldman makes clear, this view is implausible. Mounting evidence -- and recent history -- suggest that crude oil prices are increasingly determined by investors betting on which way prices are moving, rather than on economic fundamentals.

staffpro · Feb 23, 2012

Quote from Free Thinker:

can i help you. would you like to borrow a gun?

Goldman estimated in a research note on March 21 that every million barrels of oil held by speculators contributed to an 8 to 10 cent per barrel rise in the oil price.

As unrest spread in North Africa and the Middle East, investors accumulated the equivalent of almost 100 million barrels of oil between mid-February and late March on top of their existing positions, adding approximately $10 to the ârisk premiumâ, Goldman said.

Using Goldmanâs 8- to 10-cent estimates and data on speculatorsâ positions from the U.S. Commodity Futures Trading Commission, Reuters calculated that as of last Tuesday, the total speculative premium in U.S. crude oil was between $21.40 and $26.75 a barrel, or about a fifth of last Tuesdayâs price. The UKâs Financial Services Authority (FSA) does not publish trader data on Brent.

Goldman Sachs disputed the Reuters calculation on speculative premium.

http://www.cbsnews.com/8301-505123_...that-speculation-drives-oil-prices-listen-up/

As Goldman makes clear, this view is implausible. Mounting evidence -- and recent history -- suggest that crude oil prices are increasingly determined by investors betting on which way prices are moving, rather than on economic fundamentals.

you have some evidence there and i agree with you BUT im appaled at the fact that she doesnt even consider that the rise has ANYTHING AT ALL to DO WIT HTHE FUCKING PRESENCE OF THE US MILITARY IN MID EAST AND TENSIONS WITH IRAN ITS AS IF she doesnt even fuckign know any of that is going on, so yes the "speculators" are pricing that in BUT WHY SHOULDNT THEY is she that fucking absent minded.

Free Thinker · Feb 23, 2012

Quote from staffpro:

you have some evidence there and i agree with you BUT im appaled at the fact that she doesnt even consider that the rise has ANYTHING AT ALL to DO WIT HTHE FUCKING PRESENCE OF THE US MILITARY IN MID EAST AND TENSIONS WITH IRAN ITS AS IF she doesnt even fuckign know any of that is going on, so yes the "speculators" are pricing that in BUT WHY SHOULDNT THEY is she that fucking absent minded.

true. every republican candidate except ron paul has promised to attack iran. it has to cause oil problems.

clacy · Feb 23, 2012

Quote from Scataphagos:

Pelosi doesn't really "think"... she merely spews Socialist propaganda.

I'd go for $10/gal gas if it would assure getting rid of Odumbo, Reid, Peolsi, et al in the next election.

Bingo. 90% of the time every single thing out of a politician's mouth is purely for political advantage and will be completely skewed away from the truth.

She knows full well that the price of gas is because of money printing.

staffpro · Feb 23, 2012

Quote from Free Thinker:

true. every republican candidate except ron paul has promised to attack iran. it has to cause oil problems.

and excuse my caps lock, it wasnt directed at you but rather nancy pelosi lmao... what a dumb bitch

clacy · Feb 23, 2012

Quote from staffpro:

you have some evidence there and i agree with you BUT im appaled at the fact that she doesnt even consider that the rise has ANYTHING AT ALL to DO WIT HTHE FUCKING PRESENCE OF THE US MILITARY IN MID EAST AND TENSIONS WITH IRAN ITS AS IF she doesnt even fuckign know any of that is going on, so yes the "speculators" are pricing that in BUT WHY SHOULDNT THEY is she that fucking absent minded.

LOL you think crude would be lower if Iran was running rough shot over the ME? You do realize that Saudi Arabia, Kuwait, UAE, etc are all covertly pro-US presence right?

Look at the areas where we don't heavily influence.... Somolia, Iran, Syria are not exactly stabilizing forces in the ME.

MKTrader · Feb 23, 2012

Quote from Free Thinker:

true. every republican candidate except ron paul has promised to attack iran. it has to cause oil problems.

And Nazi Pelozi and Oh-Bomb-Ya aren't exactly anti-war, either.

MKTrader · Feb 23, 2012

Quote from staffpro:

and excuse my caps lock, it wasnt directed at you but rather nancy pelosi lmao... what a dumb bitch

To add insult to injury, that b*tch profits from insider trading, laws she helps craft that increase her investments/reduce her taxes, etc. She's not a speculator--that would mean taking big risks. She's a crony capitalist who profits handsomely from a rigged game. Ultimate hypocrisy.

And it's funny how the usually maligned Goldman are suddenly "experts" when they take aim at "speculators."

This

http://finance.fortune.cnn.com/2011/03/10/dont-sweat-the-oil-speculators/

+ money printing = Occam's Razor = a much better explanation than a GS "study."