Mike in CT's Link
Do what you want to the NYSE you still have the stock exchanges in London, Germany and Japan for starters to contend with.
Speaking of artificial.....
... extensive research has produced a near-consensus among academic experts that speculation has not been a key driver of recent oil price fluctuations. This finding has important implication for on-going policy efforts to regulate oil futures markets.
Speculation in and of itself is just investment.... the evil is insider trading and that many times is what drives the speculator. Insider trading folks should and on the rare occasion, do go to jail for.
I wasn't a fan of developers and speculators driving up real estate for many years. I shed no tears when the bubble burst and they lost. many ways it's a game of musical chairs. Much of the problem was a good number of the big time players got away relatively unscathed.
The bottom line is IF we used our vast reserves of oil wisely the cartels would have much less effect on the price of oil.
Saudi Arabia's oil minister just came out saying they want to drop the price of oil to $80 a barrel since they are losing market share to the US because of the shale revolution.
The Marxist in the Whitehouse should take a basic course in economics since he has no clue on supply and demand. I'm waiting for him to come out and say his "Cash for Clunkers" program is the real reason for falling prices.
-What if said 'rich people' held short positions and lost their shirts because the price spiked on idiotic energy policy? How would you feel about those folks then?
Obama blames white people, or the rich, or Wall Street, or.....
I seem to recall that tactic gaining popularity in Europe in the 1930's. How'd that turn out?
When prices are high, folks find a way to create more of it, makes it worth the effort. Supply rises.
When things are expensive, other folks find ways to get their job done with less,or simply find they can get by with less. Demand falls.
This is what happens when the two meet up.....
Owl, long as bad things happen to rich people liberal leftists are happy. Even if the lib is an evil rich person himself they are happy. Helps them out with their guilt.....
So for 1 1/2 terms of Obama's presidency he has sanctioned the manipulation of oil- high fuel costs- who does it hurt most, "the poor" his constituency, much more than others. Just one more example of gov for the politicians- screw the citizens. I see nothing in the form of cracking down on leveraged betting in commodities markets or creating a national energy policy- both of which would be good for our country. What a concept- doing what is right for the country......
The blowback of all this is going to hurt Europe [stuck in the middle] and the shale oil companies- bet accordingly- EPV up 10% in a week- YES!
Anyone who thinks otherwise is badly misinformed.
If the EPA would get out of it and we open up public land like in Alaska and sea production gasoline could be under 2 bucks a gallon long ago.
I am sure this was a direct quote from Obama, "I love high gasoline prices." I am sure he said that.
By the way, there is a station in Ohio that the price is $1.99. I haven't paid over $2.99 a gallon for several months.
Bowfreak's Link
"Currently, the oil boom is self-fulfilling at this pace. Based on this new information, Cramer said that talks of being self-sufficient by 2020 are off the table. At this pace, it could be three years. "
Long as we make it clear where his heart is...... it's certainly not with America.
We just slipped under $4 for regular here. Still around $5 on Lanai I think Bruce. =D
In reality, speculators keep prices stable. Here's how it works. Speculators are just people who are buying futures contracts. Lets say you buy a contract for future delivery and the price of the contract is $100. Lets say the spot (cash) price is $90. Now lets say the price of that commodity has been going up. As the price rises, it depletes the supply of the commodity because the rising price means more people are buying. So what stops the commodity from continuing to rise? The speculator. Because all the speculators that bought the futures contracts will sell when the contract comes due. That will arrest the bull market for the commodity and stabilize the price.
Now you know. So now you can stop shrieking about the speculators just because the liberals told you.
Now I know that the OP will either not understand this basic economics lesson. Or will just ignore reality because it doesn't reconcile with his liberal meme.
Great post Bluetick, and it's yes to both-he doesn't understand basic economics and his M.O. will be to ignore (vacate the thread) or to post another cut-and-paste from DU/KOS that is equally filled with bovine excrement and feel that constitutes "spirited debate".
Every time I read something else here it bolsters my resolve to prohibit voting from the general public.
The Rock
That gave them a HUGE edge in pricing their flights and securing an already increasing market share.
Got 20.7 mpg on the way back. Does 10 percent ethanol cost us that much in mileage. I check every tank on paper and record it. Never got that good of mileage.
2013 Super Crew Cab F-150 4x4 with off road option and Ecoboost engine.
Diesel $3.27
The bad news? My retirement accounts lost $10K last month.
Call some of your local petroleum distributors, they will be able to tell you of any ethanol free stations they own or supply. There is one 10 miles from my place and most of the marina's have ethanol free,but you will pay a premium there.