Speculators blamed for high oil prices

Speculators blamed for high oil prices

There are 649 comments on the TwinCities.com story from May 15, 2011, titled Speculators blamed for high oil prices. In it, TwinCities.com reports that:

Feel like you're being robbed every time you fill the gas tank? Not sure who to blame? Try Wall Street.

Join the discussion below, or Read more at TwinCities.com.

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Sugaree

Saint Paul, MN

#2 May 16, 2011
it make just as much, if not more sense to blame Barack Obama. if the president were to announce a real energy policy, not one based on the fantasy and pipe dreams of windmills and solar panels, we would see the hated "speculators" bid down the price of oil immediately. But the truth of it is Barack Obama DOES NOT CARE - he likes the high gasoline price. he wants us to suffer. the rationale is we'll come running to him to save us and then willingly submit to the oppression and servitude he has planned for us all along. Obama is not just a corrupt politician. he's a fascist tyrant. A cruel oppressor.

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Since: Apr 08

Wisconsin Rapids, WI

#3 May 16, 2011
Yes speculators play a large part.

But the other part is the total wall put up by the current administration about drilling in areas of know oil reserves.

So yes blame the speculators, but their buddy in the White House is helping them get rich, just in time for the political contributions.
Republican Jokesters

Maple Grove, MN

#5 May 16, 2011
Whatever wrote:
Suuuuuuure.
And Obama refusing to let all those idle oil rigs in the Gulf and elsewhere around the US actually DRILL for oil has nothing to do with it.
Propaganda for the stupid liberals, and they'll eat this $h*t right up. Just like they always do.
The article clearly points out that speculation is the cause for the rise in oil and if you understood economics and the commodities market you would come to the same conclusion. If you read yesterdays news, you would have learned that President Obama is opening up offshore permits for exploration. In the long run, it will not make a difference. The price of oil will continue to rise as the financial markets manipulate the price and the drive for profit increases. It's that simple.

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Continence

Cold Spring, MN

#6 May 16, 2011
If I have 2 widgets, and almost everybody in America depends on "My" widgets....I can determine the price for my Widget.......and I AM going to demand a Robbers Price for them!

If widgets are widely available, produced in excess.....I have to compete in the marketplace to sell my widget.....and MY price comes way down.

Economics 101 for any Victim of a Government School Edumacation in the past 40 years.

If the people that pull the strings on the Mannequin in the White House allowed America to produce more oil, open the reserves, or threaten to flood the market.....the price of oil comes back down.

Economics 102 for any Victim of a Government School Edumacation in the past 40 years.

The Speculators review the "market" when they speculate on the future price of oil......If the people that pull the strings on the Mannequin in the White House allowed America to produce more oil, open the reserves, or threaten to flood the market.....the price of oil comes back down.

Economics 103 for any Victim of a Government School Edumacation in the past 40 years.

You are welcome.
magruder

Missouri City, TX

#8 May 16, 2011
After Ensco sued and won, o'bama is now at least giving lip service to issuing new permits. He has no choice. The judge ruled that the feds "unlawfully" have been dragging their feet concerning the permits. As far as the speculation part, a good speculator can make money if the price of crude oil goes down, as easily as when it is rising. That is the way it is with any commodity, not unique to energy.
http://www.bloomberg.com/news/2011-05-10/u-s-...
the troll

Minneapolis, MN

#11 May 16, 2011
It was a simple fix wrote:
Yes speculators play a large part.
But the other part is the total wall put up by the current administration about drilling in areas of know oil reserves.
So yes blame the speculators, but their buddy in the White House is helping them get rich, just in time for the political contributions.
He just recently called for an inquiry (meaning back off the price gouging), but since he's colored and the republicans have no viable candidate at this point, blame him. any of the american voters with a 1/3 of a brain will join you.
the troll

Minneapolis, MN

#12 May 16, 2011
Sugaree wrote:
it make just as much, if not more sense to blame Barack Obama. if the president were to announce a real energy policy, not one based on the fantasy and pipe dreams of windmills and solar panels, we would see the hated "speculators" bid down the price of oil immediately. But the truth of it is Barack Obama DOES NOT CARE - he likes the high gasoline price. he wants us to suffer. the rationale is we'll come running to him to save us and then willingly submit to the oppression and servitude he has planned for us all along. Obama is not just a corrupt politician. he's a fascist tyrant. A cruel oppressor.
Your threatened and jealous of any collud man that he reads, has a beautiful wife and a future in politics. Unlike any of his republican challengers or you.
RevolutionNo9

AOL

#13 May 16, 2011
Sugaree wrote:
it make just as much, if not more sense to blame Barack Obama. if the president were to announce a real energy policy, not one based on the fantasy and pipe dreams of windmills and solar panels, we would see the hated "speculators" bid down the price of oil immediately. But the truth of it is Barack Obama DOES NOT CARE - he likes the high gasoline price. he wants us to suffer. the rationale is we'll come running to him to save us and then willingly submit to the oppression and servitude he has planned for us all along. Obama is not just a corrupt politician. he's a fascist tyrant. A cruel oppressor.
Yes, and now we are reaching towards 12 years of it, because the first eight were because of G.W. bush, who got that fascist ball rolling real well.

Between the current two parties we have in power here in America, it`s just a matter of time before we become a fascist country of wimps with rings in our noses, or we will have the next American revolution.

I hope it`s the revolution.
Pete Wendell

River Falls, WI

#14 May 16, 2011
Republican Jokesters wrote:
<quoted text>
The article clearly points out that speculation is the cause for the rise in oil and if you understood economics and the commodities market you would come to the same conclusion. If you read yesterdays news, you would have learned that President Obama is opening up offshore permits for exploration. In the long run, it will not make a difference. The price of oil will continue to rise as the financial markets manipulate the price and the drive for profit increases. It's that simple.
Yeah, Barack is right on top of the issue. It's May and gas is already over $4/gallon.

We keep making tiny little BS gestures to try and massage prices down, when we need a comprehensive drilling plan. Ten plus years ago the liberals cried that drilling in ANWR wouldn't provide oil for about 10 years...well, here we are.
Fact

Elk River, MN

#15 May 16, 2011
Speculators would bid down the price of pil if they knew Obama was serious about going after all our own fossil fuels. As soon as speculators know Obama is real serious, we will start seeing prices fall. Right now, Obama will open a few leases and before they can be opened, the environmentalists will shut them dowm. Let's shut down Obama and the environmentalists for good.
pat

United States

#16 May 16, 2011
The rise in gasoline prices reflects the same "free market" capitaism touted by the Republican Party as an answer to all of our economic ills.

After the deregulation on the 90's and the non-regulation of the Bush and Obama administrations, the commodities markets are fair game for endless, unregulated speculation. Get used to it, America.

It will not end until voters wise up enough to demand a Congress and White House that will reinstitute reasonable regulation on the markets. Until then, speculators and Wall Street investment bankers hold all the cards. All we have is the hope that they don't want ALL of the mney.
vetinwbl

Minneapolis, MN

#17 May 16, 2011
Whatever wrote:
Suuuuuuure.
And Obama refusing to let all those idle oil rigs in the Gulf and elsewhere around the US actually DRILL for oil has nothing to do with it.
Propaganda for the stupid liberals, and they'll eat this $h*t right up. Just like they always do.
Do you know how to comprehend anything you read?Didn't think so,nothing can penetrate that block of ignorance on top of your shoulders.
Idea

Saint Paul, MN

#18 May 16, 2011
Lets start publsihing the speculators home addresses and close family members addresses.
Curmudgeon

Minneapolis, MN

#19 May 16, 2011
It's still kill the lawyers, let's add Wall Streeters to the list.
vetinwbl

Minneapolis, MN

#20 May 16, 2011
Continence wrote:
If I have 2 widgets, and almost everybody in America depends on "My" widgets....I can determine the price for my Widget.......and I AM going to demand a Robbers Price for them!
If widgets are widely available, produced in excess.....I have to compete in the marketplace to sell my widget.....and MY price comes way down.
Economics 101 for any Victim of a Government School Edumacation in the past 40 years.
If the people that pull the strings on the Mannequin in the White House allowed America to produce more oil, open the reserves, or threaten to flood the market.....the price of oil comes back down.
Economics 102 for any Victim of a Government School Edumacation in the past 40 years.
The Speculators review the "market" when they speculate on the future price of oil......If the people that pull the strings on the Mannequin in the White House allowed America to produce more oil, open the reserves, or threaten to flood the market.....the price of oil comes back down.
Economics 103 for any Victim of a Government School Edumacation in the past 40 years.
You are welcome.
Did you notice in the article there is no shortage of oil,so your attempt to educate people is laughable.Now go back to collecting your thoughts whats left of that miniscule pile of goo,hope you enjoy paying for research of the oil,and then getting gouged at the pump.By the way before you talk economics know something about it,are you a VICTIM of a CATHOLIC EDUCATION?
Helen Keller

Saint Paul, MN

#21 May 16, 2011
the troll wrote:
<quoted text>Your threatened and jealous of any collud man that he reads, has a beautiful wife and a future in politics. Unlike any of his republican challengers or you.


Beautiful wife? Your vision is worse than mine.The champion of childrens nutrition should have a sign on her that says "wide load".The only future Obozo has in politics is writing his book after his one and only term.
The Hard Truth

Northome, MN

#22 May 16, 2011
Alright, free marketeers, make your case for this particular brand of corporate greed and selfishness as a benefit to America. Hopefully, when our own ox is gored we won't be fooled by the corporate manipulation of tea-bagging idiots who mouth platitudes about freedom while living in the bondage that comes from the tyranny that corporations excercise in the name of the freedom that they claim will bring jobs, prosperity, and happiness to a reeling American public.

“Freedom and responsibility”

Since: Dec 10

St. Paul

#23 May 16, 2011
Speculators. The mythical force to blame when a politician doesn't like the price of something. Of course, it's funny too how they claim that speculators never drive the price of anything down.
KJL19

Manchester, CT

#24 May 16, 2011
the troll wrote:
<quoted text>Your threatened and jealous of any collud man that he reads, has a beautiful wife and a future in politics. Unlike any of his republican challengers or you.
Did you call Michelle Obama beautiful??? She could pass for Nipsy Russell's twin sister...
Ray

Minneapolis, MN

#26 May 16, 2011
Path of Reason wrote:
Speculators. The mythical force to blame when a politician doesn't like the price of something. Of course, it's funny too how they claim that speculators never drive the price of anything down.
They don't make money driving the prices down. Duh! Did you pass fourth grade math?

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