Actually, if you escape the hype a little bit you will find that the price of oil relative the euro has gone up no where near as much. So europe is not seeing the increases we are.
Why are seeing these increase, becasue the dollar is weakening in world markets, nose diving actually. Why is the dollar nose diving? Because the government is borrowing billions of dollars to pay for the Iraqi war and to re-build Iraq.
Oh and iraq is making quite a killing on the oil revenues it now makes.
Makes me proud to be a republican, lol. BTW this isn't opinion, you can look this all up.
Ken
08 Ford F250 SuperCab Lariet LB 4x4 6.4L Powerstroke
04 299RLS Sprinter
07 Ultra Glide Harley
00 BMW 540I Maroon
Friend of Bill Wilson
I am going to get flamed for making this observation but I’m going to do it anyways. 29 years ago I took a job where I currently work. At the same time I made a decision to live 6 miles from where I work. And all of those 29 years I drove a 4 cyl or 6cyl car.
At the same time, some of the people made a decision to live 50 miles from work. And they drove pickup trucks and SUV’s every day to work. And they didn’t even bother to carpool with someone else. They did this under the impression that gas that they would always be able to afford to commute painlessly.
Fast forward 30 years when they are thoroughly hog tied and bent over a barrel of oil, and OPEC starts to turn the screws, the value of the dollar drops through the floor, global demand goes through the roof, and no one has drilled a new oil well in 100 years, then they scream like a stuck pig. Meanwhile, they take no ownership of the problem, someone else is doing this to them. Its the Oil speculators, It must be a conspiracy, etc., etc, etc.
kghenson wrote: Actually, if you escape the hype a little bit you will find that the price of oil relative the euro has gone up no where near as much. So europe is not seeing the increases we are.
Why are seeing these increase, becasue the dollar is weakening in world markets, nose diving actually. Why is the dollar nose diving? Because the government is borrowing billions of dollars to pay for the Iraqi war and to re-build Iraq.
Oh and iraq is making quite a killing on the oil revenues it now makes.
Makes me proud to be a republican, lol. BTW this isn't opinion, you can look this all up.
WHAT ??? It ain't the oil speculators fault? How you can you say that. You should be tarred and feathered then burned at the stake! Such heresy.
eubank wrote: According to a report this morning on CNN (a very similar finding in the Bingaman report I linked to earlier), some 30% to 60% of the price we pay at the pump can now be attributed to speculation in the oil market. The remainder of the cost% can be attributed to supply and demand. (Speculation is defined as folks who buy/sell shares in oil, but who do not themselves consume or use that oil.)
Lynn
You poor mis-informed people.
I am a commodities trader (or oil speculator as you like to call it.) I invest my money in areas where I think I am going to get the best possible return with the lowest possible risk. Some times that happens to be commodities trading in oil contracts. So if you feel that I am to blame for the high price of oil, so be it. However, until you and like minded people figure out where the real problem is, or who you should be angry at, you are powerless to change it. For instance, there is lots you could do to influence the price of oil to fall. It’s called lowering demand. You could drive less, buy a more fuel efficient car, drive a motorcycle, ride your bike, walk, take the bus, live closer to work, tele-commute, drive slower, avoid jack-rabbit starts and stops...
Boy, you really are an arrogant sob. People like you regularly in the past ended up dangling from a lamp post when the men of this country had guts. You're lucky most people today are spineless jellyfish.
Drive less? Ride a bike?
Why dont we just get rid of people like you, legislatively?
It's people like you who got Hitler elected legally after the Weimar Republic fiasco.
You mean I get to keep doing this until the Legislator acts. I should be able to retire comfortably by then. God help us all if that's what we are waiting for.
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