Oil Speculators and Congress

Chris92 · 06-23-2008, 11:13 AM

2123

Airlines are talking with congress about it today.

The House Committee on Energy and Commerce :: Committee Schedule

GrowSomeBallsAndStrike · 06-23-2008, 11:46 AM

its about F'in time

Chris92 · 06-23-2008, 11:54 AM

i suggest everyone watch this. Its very informative! Even the Saudis are saying oil should be $65 a barrel and speculators are primarily the cause of the current price.

elgeneralisimo · 06-23-2008, 12:37 PM

for all you Obama haters. Obama proposes getting rid of the Enron Loophole. Thats a good thing.

Stan Marsh · 06-23-2008, 12:48 PM

Quote:

Originally Posted by elgeneralisimo

for all you Obama haters. Obama proposes getting rid of the Enron Loophole. Thats a good thing.

and so do Republicans you d-bag

oh and Obama supports doing absolutely nothing to drill for our own oil in the short term until we can transition over to alternative fuels. The hypocrite supports destroying naturally habitats of other countries to fuel this countries energy needs and will gladly accept oil from them no matter how un-environmental their drilling practices are. But it is EEEEVIL to drill here.
Don't vote for ObSame, typical hypocrite liberal duesch.

How's that private jet of yours going Gore? Have you saved the environment with it yet?

iwannagofast · 06-23-2008, 01:24 PM

Quote:

Originally Posted by Chris92

i suggest everyone watch this. Its very informative! Even the Saudis are saying oil should be $65 a barrel and speculators are primarily the cause of the current price.

If so, then we're in for another oil crash like the one we saw in the 80's with a tech bubble twist. Unfortunately, it will probably backfire on us again and happen while we're paying for all the new offshore drilling and gas refineries we are going to build. That is now that the moratorium has been lifted.

Glad I kept my truck.

elgeneralisimo · 06-23-2008, 01:28 PM

Quote:

Originally Posted by Stan Marsh

and so do Republicans you d-bag

oh and Obama supports doing absolutely nothing to drill for our own oil in the short term until we can transition over to alternative fuels. The hypocrite supports destroying naturally habitats of other countries to fuel this countries energy needs and will gladly accept oil from them no matter how un-environmental their drilling practices are. But it is EEEEVIL to drill here.
Don't vote for ObSame, typical hypocrite liberal duesch.

How's that private jet of yours going Gore? Have you saved the environment with it yet?

There he goes again....

PS why do your personaly attack me and call me an d-bag? Because I think different form you?

dom · 06-23-2008, 02:09 PM

Quote:

Originally Posted by iwannagofast

If so, then we're in for another oil crash like the one we saw in the 80's with a tech bubble twist. Unfortunately, it will probably backfire on us again and happen while we're paying for all the new offshore drilling and gas refineries we are going to build. That is now that the moratorium has been lifted.

Glad I kept my truck.

The last thing we want is for oil to crash. Yes, it may sound good for the consumer, but it is not. It would put our economy into even more free fall. The reason; most US investment companies have thrown the money (the money that WE give them each month out of our paycheck) into oil, oil companies, oil research and development companies, oil equipment manufactures, etc. The drop in the dollar has caused investment companies to invest in commodities, which are more tangible than the US dollar right now. The US dollar is based on our debt, our GDP, and retail numbers. All of these are weak. If oil drops, retail numbers may come up, but our GDP and debt would remain stagnate if not grow. If oil were to bust, so would a number of investments, our investments. This would cause massive sell offs in what T.Rowe Price, Vanguard, TIAA CREF, etc. are invested in. This would cause a massive loss to 401K, IRA, and Mutual Fund accounts to name a few. That means a loss in money to OUR ACCOUNTS. Instead of a crash, we need to hope for a slow draw down in the price of oil. That will allow investment firms to forecast the change, which would then allow them to re-distribute investments wisely. Be careful what you wish for, an oil bust is not a good thing to have happen overnight.

preludespeeder · 06-23-2008, 02:19 PM

Quote:

Originally Posted by dom

The last thing we want is for oil to crash. Yes, it may sound good for the consumer, but it is not. It would put our economy into even more free fall. The reason; most US investment companies have thrown the money (the money that WE give them each month out of our paycheck) into oil, oil companies, oil research and development companies, oil equipment manufactures, etc. The drop in the dollar has caused investment companies to invest in commodities, which are more tangible than the US dollar right now. The US dollar is based on our debt, our GDP, and retail numbers. All of these are weak. If oil drops, retail numbers may come up, but our GDP and debt would remain stagnate if not grow. If oil were to bust, so would a number of investments, our investments. This would cause massive sell offs in what T.Rowe Price, Vanguard, TIAA CREF, etc. are invested in. This would cause a massive loss to 401K, IRA, and Mutual Fund accounts to name a few. That means a loss in money to OUR ACCOUNTS. Instead of a crash, we need to hope for a slow draw down in the price of oil. That will allow investment firms to forecast the change, which would then allow them to re-distribute investments wisely. Be careful what you wish for, an oil bust is not a good thing to have happen overnight.

Are you kidding, lets make sure the rich people don't get hurt while the rest of us are dying slowly. You may forget something, the money you are investing is pennies on the dollar that you are paying at the pump. Yes you are correct that if oil drops quickly these investment people might lose some money, but the cost of oil right now is killing our whole economy. Save the investment firms. You have to be kidding us on here.

Whirlpool · 06-23-2008, 02:30 PM

Clinton opened the loophole during his stellar presidency.

Just get it worked out...NOW!