No matter how much of a surplus of oil that could be mustered by drilling or other means it won't do a bit of good as long as Wall Street speculators keep manipulating the oil markets: http://www.policyshop.net/home/2012/2/24/wall-street-manipulation-jacks-up-gas-prices.html
First of all, what happened to all those that were blaming rising oil prices on "Bush and his Big Oil cronies." Now that the shoe is on the other foot, it's the big bad, speculators on Wall Street. Second, and most important, the speculators are betting on a showdown with Iran. In other words the "leader" in the White House that actually believes that sanctions will get Iran to shut down their nuclear program is living in his liberal dream world. The REAL cause for gas prices is the failure of the Obama administration to deal with Iran. Oh and today's hypocritial comment by our leader is that "Republicans are playing politics with gas prices." Do even his brain dead followers realize the irony? Probably not.
Flashback: Obama Complains In 2008 Campaign Ad About Paying $3.50 For Gas… <iframe width="640" height="360" src="http://www.youtube.com/embed/k4yFsaxw6L8?feature=player_embedded" frameborder="0"></iframe>
You make it sound so simple Gipper...."deal" with Iran..... :lol: Hey if the circumstances were the same for W then he got a bad rap for high gas prices but the problem for him was that as a wealthey dude from a rich oil family and ex-best buddies of a scum like Ken Lay..... George didn't inspire trust that he WAS doing everything he could about high oil prices. Of course we all know Obama wasn't even born in the U.S and he is really a muslim in cahoots with the Middle East powers in a scheme to destroy America........ :lol: :lol: :lol: :shock: Dude....have you seen Obama's heinous evil family? Man he must be the devil himself..... :wink: :lol: To wit.......you boys are in a lot of trouble with regard to November.
Why should Obama really care about the US and our economy? After all Obama's ex buddies are radical Communist Bill Ayres founder of the Weather Underground a terrorist bomber group and the "God damn America" reverend Jeremiah Wright? We don't have to go to the Middle East to find Obama's anti-American leanings. After all, we can paint an individual just by looking at who he is friends with.
So Gipper after Obama finishes his 4 years that will be 12 years of miscreants in the White House based upon W's close relationship with Ken "Kenny Boy" Lay. It's well documented those two were close.....and so is it verified factual for Obama and those two you mention or is that verified by the same kinds of facts as his "birther" critics put forth? I guess this proves it? http://mediamatters.org/blog/201111290010 Of course Obama did this back in 2008: "but was renewed in late April when Wright made a series of media appearances, including an interview on Bill Moyers Journal, a speech at the NAACP and a speech at the National Press Club.[5] After the last of these, Obama spoke more forcefully against his former pastor, saying that he was "outraged" and "saddened" by his behavior, and in May he resigned his membership in the church.[6]"
As opposed to what, Bush's National Guard service and Dan Rather's documents? Just where is it well documented that Bush and Lay "were close?"
http://articles.cnn.com/2002-02-17/us/bush.lay_1_bush-documents-ken-lay-enron-chairman-kenneth-lay?_s=PM:US "The correspondence includes holiday greetings, birthday notes and get-well wishes. In one 1997 note, Bush teases Lay about his 55th birthday, adding "Laura and I value our friendship with you." Seems like a clear statement to me....
Is there a politician out there that doesn't send holiday greetings, get well wishes and birthday notes to big contributors to their campaign? How many times was Lay a guest at the White House? I imagine that such a good friend would have spent many a night in the Lincoln bedroom. Any evidence that Lay was a guest at the White House or the Bush ranch. Seriously, what else do you have?
The notion that "Wall Street" is manipulating oil markets is just more empty class rhetoric...there are dozens of commodities exchanges around the world, including massive energy trading complexes in Europe, Asia and of course the middle east, not just "Wall Street". In addition, much of these "traders" and "speculators" are actually entering into these contracts to assist their customers to hedge their exposure to further price risk. A prudent and necessary practice for many, many businesses world-wide.... Shame on the airlines, shipping and other transportation companies for wanting to enter into hedging arrangements and limit the volatility of their costs and prices to their customers....for shame. Shame on manufacturers using petroleum as a raw material to manufacture plastics, lubricants, sulfur, synthetic fibers, gels, pesticides, fertilizers, cosmetics, pharmaceuticals and dozens of other critical petrochemicals for wanting to enter into hedging arrangements and limit the volatility of their costs and prices to their customers...for shame.
How lame are the democrats. When Bush was in power they claimed he and his oil buddies were racking up millions in profits and were protected by the Republicans. So when the Republicans lose power and Obama has all the chips in the Congress...what happens. The Oil Companies are still making tons of money. So how lame are democrats that even when they have power that they can't keep the price of gas down and throttle back Oil company profits. Could it be that Bush wasn't in control after all, could it be that the whole thing is market driven, not politically driven as Dave would have us believe.
http://online.wsj.com/article/SB10001424052702304520804576346121844049908.html Looks like some Democrats tried to control the "excessive" speculating on oil......note the word "excessive"...... Nothing seems to be excessive or damaging to some people as long as there is gold to be grabbed and you can't get arrested.
....this was the last paragraph in your own article. Oil is the largest traded commodity in the world. The majority of oil trading takes place far away from "Wall Street"...beating up "Wall Street" makes for good campaign soundbites, but very ineffective policy. I guess it depends on your intentions....
Pure supply or controlled supply? You believe it's a pure market....driven simply by market forces with no excessive profiteering going on at the expense of average hard working people. I believe otherwise....and so do a a great many others.
You are certainly entitled to your own opinions, but not your own facts. In fact, the US accounts for only 8% of world oil production and barely over 1% of proven world oil reserves. Given those facts in addition to the fact that the majority of oil trading takes place away from "Wall Street" how on earth can it be possible for "Wall Street" "control" the supply of oil? It can't...... "Excessive Profiteering"....please define for me what is excessive. Let's not forget, no matter who is in the White House, our system depends on "profits" for it's very existence.....
The meaning of "excessive" is certainly in the eye of the beholder and subject to individual if not legal guidelines. Whomever is engaged or has control of oil supply/price manipulations for their own gain and profits needs to be regulated and international laws put into place if their activities result in superficial elevations of oil and gas prices. I have always said that those products that average hard working people MUST have......with NO other alternative competitively priced products to choose from.....those products MUST be regulated and monitored. That's not to say that profits shouldn't be made.....profits must be made. But when people are getting exorbitantly rich at the expense of others financial misery that's just plain wrong and detrimental if not treasonous to this country.
Dave you just describe food and medicine. Should the govt regulate food prices and all aspects of medicine (except dentists of course). Heck what about autos, the public has no real alternatives there either, most autos in their class are priced very closely. Should the Govt dictate the profit allowed on a car?
Terry you do have economic choices in foods....lots of em and market pricing does dictate which foods get selected and which ones don't. And certainly choices in automobiles are all across the map but as a whole new autos are damned expensive these days but if you're looking for economy or you must have economy you buy the $1000.00 1994 Nissan with 170,000 miles on it that I bought my son last summer when he had to have a car. etc. etc. But the gas that goes in the cars is pretty generic......and there are no choices in the product line and you MUST have it.
You might have choices in brand of food, just like you have choices in brands of gasoline. But when was the last time the price of milk didn't go up across the board, or the price of bread go up across the board, just like gasoline. You might have a point with autos, there is no used food you can go to if a new gallon of milk is too expensive.