Why the oil crunch may grow worse

[Solar Powered Car]

Sam wrote:

Oil hence gas prices being high are from speculators. It is responsible for anywhere between 20-50% of the present hike in oil prices with the moist agreed amount being 30 percent of oil price increases.
Up until 8 years ago (before the Bush Administration took office) when you purchased oil futures you had to take physical possession of the purchase within 30 days. That meant if you purchased 500,000 barrels of oil you had to take it and store it.
Today thanks to former senator Phil Graham – the guy that just resigned from the John McCain committee for president – he pushed through the Senate and the president signed it a bill that allowed the oil futures to be traded on paper with NO physical possession needed.
No other futures received this type of leeway!
Phil Graham was head of the Banking Committee, Finance Committee and the committee that oversaw the futures market
Remember he is the one that recently called people who complained about high gas costs “Whiners” and “It was all in their head about a recession and loss of jobs” This is a first class piece of **** if there ever was one.
Since then up until today you have companies who have NO manufacturing plant, nor airplanes, no merchant or cruise ships or any other type of machinery that uses oil purchasing shares only to resell them to one another on paper driving up the price that eventually legitimate manufacturing or transportation industries have to purchase.
Naturally the price is passed on to the consumer in the form of higher prices.
Some of these trades involve millions of barrels of oil and have been purchased by Wall Street banking firms, investment firms and even large legal firms.
You the customer are paying right now about 80 cents to a dollar per gallon more on the price of gasoline due to this.

I have always known "POWER CORRUPTS", but never imagined it would be so flagrant and selfish. Phil Graham, and his ilk in government, and their pals, are all in on it from he lowest to the highest...it must be smooth sailing for all of them; on a sea of oil.

Thank you Sam, for reminding us, and enlightening us, on the morals, and scrooples of our infamous leaders.

[Rodney Dangerfield]

Your kidding it could get worse ? What could be next, the political
crew in Washington, D.C. are doing nothing !
Remember the words of President Thomas Jefferson:" when his government isn't working for you it's time to start a new government !
Elections are coming up do the right thing get out there and vote
a candidate who will truly work for you and your family !

[Solar Powered Car]

Solar Powered Car wrote:

<quoted text>
I have always known "POWER CORRUPTS", but never imagined it would be so flagrant and selfish. Phil Graham, and his ilk in government, and their pals, are all in on it from he lowest to the highest...it must be smooth sailing for all of them; on a sea of oil.
Thank you Sam, for reminding us, and enlightening us, on the morals, and scrooples of our infamous leaders.

Typo Correction: Scruples

[Solar Powered Car]

Rodney Dangerfield wrote:

Your kidding it could get worse ? What could be next, the political
crew in Washington, D.C. are doing nothing !
Remember the words of President Thomas Jefferson:" when his government isn't working for you it's time to start a new government !
Elections are coming up do the right thing get out there and vote
a candidate who will truly work for you and your family !

It's quite obvious now, as to why Washington, D.C. is doing nothing, they are sitting on their royal ****-ssets...!!! It all makes sense now, clear as a bell...!!!

[Petro Bubble]

This is the type of propaganda article that is helping to fuel the petro bubble. It does not inform us about the real causes of the rise in energy costs, but merely underscores what we already know. Whether by design or by accident, this type of fear mongering is part of the problem.

[Believer]

Kill the country to "save the planet"?

[Get Real]

Waldo Leidecker wrote:

Nationalize the oil industry, make speculation in energy illegal, and send the current crop of energy-speculating-pond scum from Wall Street to Guantanamo for a couple of years - in the interest of NATIONAL SECURITY!!!

I AGREE 100% WITH YOUR STATEMENT !
ALL THE MONEY HAS GONE TO A SELELECTED FEW WHILE THE REST OF US HAVE TO PAY FOR THE SHORTAGES< TAXES < AND ENVIRONMENTAL CLEAN UP

[SOLAR POWER]

Buy solar equiptment now.
You will be ahead of the curve.

[Ed Burke]

Everyone who cancels a car or truck registration and replaces it with a motor scooter should get a tax credit. The gas guzzler tax should apply to any vehicle with highway mileage above 20 mpg, and the gas should have a 50 cent tax added to it to fund new wind power generators across the nation.

Then we should hike all the taxes for the rich people who bought and paid for 8 years of George W. Pinhead, back up to where they were before pinhead gave out all those Tax Breaks to people who should never have gotten them in the first place. Use all that money to pay down the massive Increase Bush added to the National Debt to pay for the Rich People's Tax Breaks.

Then we can create an actual National Energy Policy along the lines of no imported oil in 20 years. Oh, and all that hype about electing " Bush, The Sequel" McCain, let's just all have a nice big Belly Laugh over that clueless idea and 'Move-On'!

[Ed Burke]

that should say BELOW 20 mpg ! Sorry !

[Nel Macreen]

At the pump will seem trivial if the world doesn't find synthetic replacements for petroleum based products for nearly every way of life we know (plastics) including Medicine.

Remember the Far East now has a huge and expanding appetite for oil - it isn't just the US anymore.

Imagine doctor bills tripling or worse because the plastics used for your IV, your shot, your life saving machines, medicine etc. cost the medical community much more to purchase.

I say invest in plastics laborotories now because some day soon those plastics will be off the charts (that's just American greed talking).

Of course, this is but one tiny reason why we have to reduce our dependencies on OIL. Doesn't matter where you drill it. It's true someone posted something about how garbage decays back to oil...sure...but we're using it on the planet faster than it will degrade back to crude.

It's also true that we have oil in America that we are not drilling for. Seems to me that if we were determined to get off of the oil diet, we'd be doing that now while working on implementing alternative solutions.

Looks to me more like a future calculation. We are going to buy the majority of our oil until it is gone, then we'll drill here and we'll have what nobody else has. If that is part of the overall scheme of these oil tycoons then they truly have thrown away all sense of responsibility for profit.

[Titan]

Waldo Leidecker wrote:

Nationalize the oil industry, make speculation in energy illegal, and send the current crop of energy-speculating-pond scum from Wall Street to Guantanamo for a couple of years - in the interest of NATIONAL SECURITY!!!

Here! Here! And while we are at it:
- nationalize television so are getting the same message
-nationalize the auto indsutry, no need for everyone to drive a different type of car- who needs colors
-nationalize the soda and food industry- the government knows what's is best for us to eat and drink. And why should Pepsi make so much money!!
- nationlize newspapers- who needs thought

You get my point. You obviously do not understand economics and would rather live in a socialist country. Most of us would rather not. Shh.

[Nel Macreen]

Nice. Although I would recommend that we turn around the futures part so if you buy futures, you must buy the oil. It would change the landscape.
****

Titan wrote:

<quoted text>
Here! Here! And while we are at it:
- nationalize television so are getting the same message
-nationalize the auto indsutry, no need for everyone to drive a different type of car- who needs colors
-nationalize the soda and food industry- the government knows what's is best for us to eat and drink. And why should Pepsi make so much money!!
- nationlize newspapers- who needs thought
You get my point. You obviously do not understand economics and would rather live in a socialist country. Most of us would rather not. Shh.

[Saluki Rod]

And, don't forget the EPA stymies almost all attempts to drill offshore or on public lands in the name of snail darter preservation.

Nel Macreen wrote:

Looks to me more like a future calculation. We are going to buy the majority of our oil until it is gone, then we'll drill here and we'll have what nobody else has. If that is part of the overall scheme of these oil tycoons then they truly have thrown away all sense of responsibility for profit.

[Nel Macreen]

You're right! And don't forget the preservation of the infamous Chuckwala Lizard. What would we ever do without that species?
****

Saluki Rod wrote:

And, don't forget the EPA stymies almost all attempts to drill offshore or on public lands in the name of snail darter preservation.
<quoted text>

[Rational Man]

Ed Burke wrote:

Everyone who cancels a car or truck registration and replaces it with a motor scooter should get a tax credit. The gas guzzler tax should apply to any vehicle with highway mileage above 20 mpg, and the gas should have a 50 cent tax added to it to fund new wind power generators across the nation.
Then we should hike all the taxes for the rich people who bought and paid for 8 years of George W. Pinhead, back up to where they were before pinhead gave out all those Tax Breaks to people who should never have gotten them in the first place. Use all that money to pay down the massive Increase Bush added to the National Debt to pay for the Rich People's Tax Breaks.
Then we can create an actual National Energy Policy along the lines of no imported oil in 20 years. Oh, and all that hype about electing " Bush, The Sequel" McCain, let's just all have a nice big Belly Laugh over that clueless idea and 'Move-On'!

So basically you have the same sad old agenda of every liberal democrat.... tax those nasty old 'rich people' to pay for what you think you should be entitled to.
Your entitlement mentality is what is killing this country.
I have no problem with alternate enegrgy, but think we should also drill offshore and in ANWR, harvest tar sands and oil shale, etc etc. Actually, T. Boone Pickens has a pretty good plan that he is promoting. And I don't remember seeing a single new tax in it.
Get over your jealousy of the 'wealthy'-- according to liberal Dems, jsut about anyone who actually works for a living is included in the 'wealthy.' Try working for a solution instead of just penalizing people.

[Rational Man]

Get Real wrote:

<quoted text>
I AGREE 100% WITH YOUR STATEMENT !
ALL THE MONEY HAS GONE TO A SELELECTED FEW WHILE THE REST OF US HAVE TO PAY FOR THE SHORTAGES< TAXES < AND ENVIRONMENTAL CLEAN UP

Yeah, NATIONALIZING has worked so well in other countries -- NOT. If you want to be a socialist, there are plenty of places you can go to make your dreams come true. Just look for a country where everything is in short supply, nobody works much (if at all), the taxes take 3/4 of your pay even if you do have a job -- you know, look for places that resemble the eastern block countries and soviet union.

How can anybody be dumb enough to suggest nationalizing anything?????? That is beyond dumb -- it is criminally stupid.

[Glacier]

Back in the stone age when I was a kid, we used glass and it worked just fine. You even got money for turning in the bottles. Americans have become fat and lazy. Recycling works. Using thermal, water, wind and solar will work. All we have to do is decide to make it work. Pretend we're at war...oh, that's right we are at war. Hello?

[The laughing liberal]

Masterful wrote:

<quoted text>
dumbya and darth have that waxed, with honorable mentions to rummy, wolfie, condi, chalabi and the karlfokker

I have to laugh.
Even bush has a better approval rating (28%) than Hairball Reid and idiot Pelosi's Congress.

This month, just 9% say Congress is doing a good or excellent job. Most voters (52%) say Congress is doing a poor job, which ties the record high in that dubious category.

Voters not affiliated with either party are the most critical of Congressional performance. Just 3% of those voters give Congress positive ratings.

Ouch! Too bad the pain is ours to share.

[Todd Schuster]

I can see it now $10.00 a gallon just like Europe. SCARY MAN. REAL SCARY