[Flying Blue Eagle]

First Asking post I have Done::: IN the news today
SEND FREE MESSAGE<AND HELP TO BRING DOWNM GAS PRICES!!
GO TO -- Stop Oil Speculation Now | S.O.S. Now
FLYING BLUE EAGLE :eek: :eek: :) :)
OIL CO"S>:D :p

[tomder55]

A loophole signed into law by Clintoon in 2000, did nothing to the oil markets for 6 years, until the Democrats took control of Congress. Imagine that .
Then, with the markets assured that no new oil would come from the United States, the oil prices shot through the roof.. And the argument now is blame the speculators who have taken advantage of this Clintoon era loophole instead of basic supply and demand principles . I don't buy it.

I have no love of commodities at all because they tend to rely on shortages and bad news to propel them . But commodities trading is vital for the economy. If we clamped down on trading in the United States ,these speculators will just continue to trade unregulated on British futures market or other nations commodities exchange. The Dubai exchange opened in 2005 and much of the futures market is traded there .

In the short three week period since the launch of the WTI contracts, over US$3.07 billion of business has been transacted on the Exchange, making the Crude Oil contract launch the most successful in the Exchange's history.

DGCX WTI Volumes Hit All Time High - Eye of Dubai News

If we began a policy to seriously drill ,prices would drop immediately because speculators bet on long and short term prices and also OPEC and others would pump more oil into the supply to maintain their market share .
But if the supply does not expand to meet expanding demand ;prices will continue to rise regardless of speculators actions. Speculators only bet on the direction and the direction is more Demand than Supply.In other words ,speculators are only reacting to the market not directing it.
Speculators actually help stabilize prices in the market. For every buyer, there is a seller.They are not buying up the oil and storing it in a giant underground tank.

But regular market forces are being stalled by Government regulation . I'm the first to admit that some of the regulation is warranted ;but the net effect is this : If someone owns a piece of land that has oil/gas /or any other resource on it they cannot just put a drill or shovel into the ground to start exploiting it. It takes years to get through the bureaucratic /environmental /legal road blocks before a profit is realized if approval ever actually happens. Regular market activity would be to produce and profit from the resource .That is not happening .

We have done nothing on energy for years,and are paying the price for that.If we added domestic oil to the market then it would have an instant impact on the trade deficit as petro-dollars would come into the country instead of leaving the country .This would have the effect of strengthening the dollar... Which in itself would help on the prices of all goods and services in the US.

Drilling and increased refining would add jobs... high paying jobs... "jobs Americans will do " . So I do not understand the Democrat resistance . To me it is a no brainer . It will buy us time to transition to a time when their panacea of a petro-carbon fossil fuel free energy source is viable (if ever ).

[tomder55]

President Bush announced Monday he was lifting the executive order that prohibitted off shore drilling and the immediate effect on the market was a $9.26, or 6.3 % drop of the cost of oil/bb. Even a reliable rumor of supply increases would help end this price bubble .

[Wondergirl]

President Bush announced Monday he was lifting the executive order that prohibitted off shore drilling and the immediate effect on the market was a $9.26, or 6.3 % drop of the cost of oil/bb. Even a reliable rumor of supply increases would help end this price bubble .

He knows that won't work. Congress won't approve it, and the pertinent states don't want offshore drilling. Nice try, President Bush.

[tomder55]

Wondergirl . The Congressional ban expires in Sept. I dare them to extend it. But the sad thing is that the Democrats have the votes to thwart any efforts to increase the energy supply . Appropriations Chairman David Obey shut down the appropriating process to save Democrats from having to vote on GOP offshore drilling amendments ;sparing them from having to face the wrath of their electorate over the holiday recess .


The Democrats themselves are beginning to retreat on their pie-in-the-sky policy of preaching energy conservation, subsidies for alternative energy, and tax-hikes on oil companies as the solution to high gas prices.

Sure the Republicans do not go far enough with their "drill drill drill " policy but they are at least correct in that is a needed 1st step. Too bad John McCain is not pounding the issue ;it is a sure winner for him.

The myopic Speaker Pelosi on the otherhand moved beyond utopian platitudes that the public no longer buys and instead is demogoging the issue ;regulating oil speculators and releasing oil from the strategic reserves.
But she misses an important point . The only way to "get " the speculators is to drill for oil and expand the supply. (see my answers above ). You cannot regulate them out of existence in a global market.

[Flying Blue Eagle]

Tomder55-Since I just read your posts,I want to say that I have never thought of it this way ,BUT what you have written in your posts,has started me to thinking about this subject a lot more and to do some research and I have come to the conclusion that you have some very strong points. I'm in my 70s and I can rememberr that my dad buying gas for [ .10cents a gal.] when I was 17 20 it was 18-19 cents a gal and mid 20s it had gotten to 32-36 a gal. then when old tricky why was preasent the oil co started takeing control of turning verything into co.owned service stations;started a so cal;ledf gas shortage,and after that was over and they had control,there were huge tanks buried under water full of gas was found on all water sides of the usa,also a good friend of mine at that time worked at a refinery down in Texas and her was vhome for 10 months before returning back to Texas to work, he had told me that the whole pland was closed down because they had no where to put any nmore fuel[gas].I was watching a press conf. with nixon whae one of the press men stood up and asked [quote] [ MR PRESIDENT <WHY can't you do something about the prices of gas that the oil co. has imposed on the public of the UNITED STATES, will he started talking out the side of his mouth and said{QUOTE} will the oil co's. Kind of kave me over a barroll] now I just wonder what he was really saying?? }I also had made a trip by car to CALIF. And going threw Texas ,okla. Even okla.city oil well every where youi looked they were all shut down, were not pumping oil;; SORRY TO HAVE WRITTEN SUCH A LONG POST BUT ALL IS TRUE TO THE LAST WORD<and that is what I was going along with; but what I wrote at the beging I DO MEAN ::THANK YOU FOR YOUR REPLY ABND INPUT TO THIS:HAVE A GREAT NIGHT AND A BETTER TOMORROW AND [GOD BLESS :: F.B.E ,