smkettner
Southern California
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Joined: 03/21/2005
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It will not be the same as Enron unless the Governor of CA secretly locks in high prices with long term supply contracts. 
Since May/June is typically the gas price peak this annoncement is a way of fooling the people into thinking the government made a difference in prices. They may have called the top as oil could soon be headed for a major decline. The President can then claim credit for reducing prices and "cleaning up" the market.
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fireman50
Tennessee
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Joined: 03/30/2008
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I can only hope that the same thing happens in the oil market that happened in the housing market. The big difference will be that it would be beneficial to the general public.
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dwb619
belvedere,sc
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Joined: 07/03/2003
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Ypu do not have to wait for the movie, its already out!
Syrianna, I think the spelling is correct. Read some background on the research that was done by the author, pretty interesting.
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traxtermax
UPSTATE NEW YORK
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Joined: 05/26/2004
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TheAmRheins wrote:...So the supply & demand has been artificially skewed by investors who have no intention of actually taking possession of the commodity.
We all will suffer again when this bubble bursts and our investment portfolios will take the hit.
Yup, and the Greedy Bas*****In Pin Striped Suits will invent another game and screw us all over again. Same players, different end run.
Edit: originally quoted wrong poster.
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John&Joey
Northern MN
(Baby it's cold outside)
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Joined: 05/20/2007
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nickthehunter wrote:I really don't get it. Anyone can be a commodities trader. All you have to do is put up your money then sit back and rake in the money just like all the other commodities traders who you are blaming for the high cost of oil. But you don't, you sit back and complain! If you can't beat em, join em.
Either that or you must be thinking way back in your mind, maybe there is more to it then that, and maybe you're blaming the wrong guy? I don't get it? If the commodities traders are making a boat load of money, why aren't you getting in on the action?
Like in the housing market and the DOT Com era, what is the secret to knowing when a person should get out of the market. Hate to join the party if it's just about to end and then lose all my investment money
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fla-gypsy
North Florida
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Joined: 04/19/2005
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The current oil situation is due in part to the morons you vote into Congress every 2 years. Just the announcement of opening Anwar (that God forsaken so called frozen wildlife refuge) and all of the Gulf of Mexico to drilling would send oil prices spiraling down overnight. Throw in a couple of new refineries and some new nuclear power plants and things could regain some semblance of normalcy.
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thunderstruckhd
Ft.lauderdale,Florida
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Joined: 04/24/2007
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One of the major problems is we (the USA) have our hands tied by the enviromentalists. Other countries are drilling right of our coasts but we can't.
The greenies are more concerned with disturbing some animals then the welfare of people. And to the reference to Enron, there is a trading loophole nicknamed "the Enron loophole" which is partly responsable for the oil trading fiasco...
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TroyD
Orange County
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Joined: 05/05/2008
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ryoung wrote:Just look at what greed and speculation did to the housing market. Now it's the oil market. In the end it will collapse just as happened in the housing sector.
ryoung
Oil prices will collapse, but unlike the Housing collapse which just effects people with houses and housing related business, the oil collapse will take the entire economy and your savings account with it.
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Matthew_B
The boonies near Dallas, Oregon
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Joined: 08/18/2005
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TroyD wrote: the oil collapse will take the entire economy and your savings account with it.
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yakman
Carbondale, IL
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Joined: 11/26/2007
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nickthehunter wrote:I really don't get it. Anyone can be a commodities trader. All you have to do is put up your money then sit back and rake in the money just like all the other commodities traders who you are blaming for the high cost of oil. But you don't, you sit back and complain! If you can't beat em, join em.
Either that or you must be thinking way back in your mind, maybe there is more to it then that, and maybe you're blaming the wrong guy? I don't get it? If the commodities traders are making a boat load of money, why aren't you getting in on the action?
Most amateurs lose money in the commodity markets
Democracy is two wolves and a sheep deciding what's for dinner.
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