Tell Congress to stop the speculators !!!

Thats BS
Drill more oil
that would cause the Spectators to panic and drive oil
below market value
Drill more Oil

 

Will we want to stop the speculators when they start selling crude oil and the price plummets?

 

Two weeks ago CNBC interviewed a speculator. He explained that if not for the speculators who buy and sell contracts (they don't actually own the futures they buy, they "own" the contract) there would only one or two sellers to many buyers. In other words, speculators create competition in the futures market. Speculation does drive up the price but so does demand, whatever happens in the M.E. and of course the biggest thieves of all, our governments take their share of "blame" by taxes and regulations.
Now will any of you who whine against the Free Market shed a tear if we drill, drill, drill, and cause the price of crude to drop, and oil companies who employ every day Joes like yourselves, lay them off as a cost cutting move?

 

Speculators have done more damage than good in the products they get involved with.

I have been trying to remember the last time I have seen a dramatic drop caused by a speculator. Most of the recent items they have been involved with have went through the roof.

I watched the market a few years ago. As a paramedic, waiting for the calls could be real exciting.

If we were to immediately start drilling tomorrow, there would not be a noticeable drop in the price of oil. There is way to much speculation to be influenced at this time. The actual affect of the drilling will probably take at least 6 months. I realize this is just my opinion, there are many that will have their own as well.

 

Google George Soros and British Pound and September 19, 1992

 

Very dramatic. I guess I should now restate, Have they ever done anything that dropped and it was good for people.

 

As a commodity trader, you can profit from a Bullish market "Calls" or a Bearish market "Put". Speculators made money when crude "crashed" after GWI when it went to $12 bbl.

The largest obstacle is ignorance perpetrated by libs that create fear. I drove by Santa Barbara today thinking about how much oil lies off the coast and that fact that we now possess technology that allows us to drill safely and efficiently. Yet, the lib congress is still thinking "1969" and singing "One Tin Soldier" warning the public that if we drill, it will pollute the environment. Funny all of the libs are telling us to cut back, sell the SUV or Pick-up truck. Yet, they leave a "Carbon Footprint" larger than the state of Alaska.

Until we have the great, new, fantastic technologies to power our homes and vehicles, we still must use oil to bridge from the old to the new.

Drill, drill, drill.....

 

There is one Eco-wacko that I respect, Ed Bagley Jr.

I have actually met the guy. I worked in front of his house many moons ago. He's no al Gore. He "Walks the Walk"

 

Speculators are evil money hogs, (but so am i!) and they are causing higher oil prices. But so is our rampant war/reconstruction spending, causing the dollar to crash. We need cuts to spending (not just war, gotta give the troops what they need) across the board. The oil/fuel prices are a multi pronged problem. Just hope someone has the balls to solve them all.