As long as we have career Politicans in office we will never get any help from them.They have there heads so far up big oil.Like they say you never see a poor politician after there out of office.And our current President is just building his retirement package with high oil.
I have quit making comments about those people inside the Beltway. My opinon which can be proven by a very little research was deleted because I pointed to the truth. We all know the reason, and who is stopping the drilling in Anwar and off the coast. And as long as we are prevented from going after our resources which are there we will in the near future be paying $6.00 + or more for Diesel. And the sad thing all our choices in Nov don't have a clue, none will stand up a say this is gone on long enough. The time is now we must get with the program and drill were ever it takes to get oil. This Country runs on oil. But its just a matter of time before it stops. We rely on people who hate this Country and will do anything to destroy us. Its very Sad..... GBY
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, lobby your congressman to promote the development of new oil wells or a nuclear plant in your back yard (did I hear a GASP!), etc. etc. etc. But you all have an excuse why you can’t do those things. So you complain and blame someone else; but as long as you keep doing the same things, the same way, you will keep getting the same results. You can blame me all you want; but I don't set the price of a barrel of oil.
I buy at the current market price. When the price goes up, I sell, at the current market price. If I think the price is going to go down in the future, I sell, and buy it back when the price goes down. If I am wrong, and the price doesn’t go up or down as I was predicting, I lose my money. Nowhere in that scenario do I get to set the price I am buying or selling at. I simply make an offer to buy or sell. If there is no willing buyer or willing seller, then there is no deal.
You have a willing buyer when someone wants a gallon of gas and is willing to pay $4.00 for it. No willing buyer, no sale. Anyone can be a commodity trader. You just have to be willing to invest your money on your prediction of what will happen in the future. There is nothing like holding 100,000 bushels of wheat and reading in the paper there is a bumper crop of wheat coming to market in Russia.
We have met the enemy, and he is us – Walt Kelly (Pogo)
wing_zealot wrote: You poor mis-informed people... But you all have an excuse why you can’t do those things.
Boy do I agree with this 100%.
I can't count the number of times on here I read posts by people saying they get better mileage at 70 than 55. Or "forget the 55 mph speed limit.. ain't gonna happen" as if that's a good thing. Or folks who think supply and demand is world-wide so it won't do any good to lower OUR demand.
You are exactly correct.. if WE are willing to pay it, the price will keep going. We are not helpless. We are greedy, gluttonous and fearful of nuclear power.
Delaine and Lindy wrote: And as long as we are prevented from going after our resources which are there we will in the near future be paying $6.00 + or more for Diesel.
It doesn't matter if we drill ALL of our own oil, it will still be overpriced becasue big oil is sending most of it overseas anyway plus getting subsidies for producing it her too. Until we get a handle on this scam "splash and dash", we will continue to get hosed.
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Since the dollar is so weak, it takes more to buy oil from overseas
Traders are running the price up - every time they make a profit, it costs you and I more. It doesn't help ehen Goldman makes a prediction as they did today that the price will be $141/bbl by July. It just gives everyone a new target to shoot for.
Consumption... I see so many people blowing raw gas/diesel out of their tailpipes ( I have personally cut mine by 1/2 - it makes no sense to got to the store and burn a gallon of diesel to buy a loaf of bread!)
If things continue to increase out of control, the world is in for a big surprise. Too bad the fat cats in DC cannot and won't do their jobs. Many of them have been in office so long, you couldn't pry them out of their deep leather chairs!)
That's my 2 cents worth.
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