Comments on: Behind Skyrocketing Oil Prices

By: evie

evie — Thu, 03 Jul 2008 04:35:46 +0000

Tell us Bob. I’d like to know.

The closest I ever personally came to the markets was years ago when a friend in Denver worked in a gas/oil land lease company, or something like that. She said if I gave her $100 she would pick up a “lease” for me so I did. Shortly after that she said I should sell, seems it was only a few days but may have been weeks or months, and she gave me $800 after selling the “lease” I was holding. I’m not sure if I used the correct terminology above, but that’s how my memory serves me. She made a lot of money in the ’80s.

But the company closed and she was subpoenaed b/c of company dealings, and eventually moved overseas.

By: Bob

Bob — Thu, 03 Jul 2008 03:39:15 +0000

After reading the article and posts, it’s obvious to me none of you have even the vaguest idea of how the commodity markets work. Anyone who believes speculators can have any long term affect on prices is just plain nuts. Speculators are gamblers trying to make a fast buck, and it doesn’t matter if the price goes up or down. Some people prefer commodity markets to the horse track . I know all of you believe I’m stupid and that your enlightened, so your insults won’t bother me.
Bob

By: hp

hp — Wed, 02 Jul 2008 14:24:56 +0000

Who said the truth was hard?

By: Robert Laps

Robert Laps — Wed, 02 Jul 2008 03:49:28 +0000

Dear Mom

My job at the Inter Continental Exchange here in Atlanta is going great. I have made a lot of money here for uncle Abdullah. I have learned a lot from

these commodity speculators here in America. They have shown me how to make lot’s of money for myself as well. You see these people here in

America want to buy all of Uncle Abdullah’s oil. They only want to pay 35 dollars for a barrel of it though. You know It cost uncle Abdullah 10 dollars

to get it to them and he wanted that new home in Dubai so I will do all I can to help out. I found out that I can buy 30 barrels for 5% or less than 2 dollars a barrel on the

commodities exchange and he doesn’t even have to pump it out of the ground or even ship it. They buy it with there guaranteed pension and insurance

funds so uncle Abdullah’s money is real safe. And when I purchase it is so easy to hide you see they don’t have transparency. That means I can buy and

sell it raising the price each time and know body knows its me. It even gets better you see these purchases are called contracts and I get paid for each

contract . This is such a great country.. Sometimes I buy and sell a barrel as many as 30 times before Uncle Abdullah’s ever gives one barrel to the oil

company. My supervisor said there are no rules beyond the ones that we make here in Atlanta. He said they have a watch dog group called the CFTC

that has some silly rules, that makes it wrong for me to corner the market, but there leader is Mr Lukken said we don’t have to abide them. He said we

were a foreign exchange and for that reason those rules don’t apply. I don’t think he knows where Atlanta is though. LOL He is great it takes him 3

months just to generate a report. Maybe he should run for there president. But know matter by then I will have made so much money that I can start up

my own exchange when I get home. I am going to call it the Dubai Exchange. I miss you and will write you later.

Osamah

By: lynette

lynette — Tue, 01 Jul 2008 22:49:54 +0000

Rosemarie nailed it.

By: rosemarie jackowski

rosemarie jackowski — Tue, 01 Jul 2008 20:45:08 +0000

Follow the money.
Arrest the speculators.
Nationalize the oil companies.

By: evie

evie — Tue, 01 Jul 2008 16:36:27 +0000

Business is booming, investments are being made – just not much in the USA.

By: brs

brs — Tue, 01 Jul 2008 16:28:09 +0000

Supply and demand assumes free markets. Free markets are a fiction. Speculation is not demand. It is driven by the Federal Reserve creating money out of thin air to bail out the big investment banks. These banks do not make productive investments. They are simply trading up prices to get something for nothing. The bush junior tax cuts and Federal Reserve bailouts are not being used to invest in manufacturing, R and D or infrastructure. They are just used to bid up prices. They can no longer do so with real estate in the U.S. They are now doing so with food and oil at the expense of people everywhere who do productive work. This is leading to food riots and will wreck the economy while the fat cats game the system. The bankers huge paycheck is based on the assumption that he will act responsibly. The bankers are supposed to be guardians of the stability of the economic system. They have made a mockery of this role grabbing short term gains in asset inflation and laughing at the poor suckers who work for a living. It is Enron repeated. Look at some of the remarks the Enron boys made. Conservation and control over demand are necessary. So is control over speculation and manipulation. Unfortunately with wealth so concentrated there is little difference between the two. Controls were placed on markets and banking in the 1930’s. It was not desired then but proven necessary. It is being proven necessary again. People who are born to money cannot be trusted to behave responsibly because they never have had to work for their ill gotten gains. They do not have anything to relate to value. Everything has been handed to them.

By: evie

evie — Tue, 01 Jul 2008 14:45:17 +0000

Any decline in production is not due to peak oil but companies sitting on oil, speculators, intentional, etc. – which may be a good thing as it drives up consumer price – forcing folks to conserve or find alternatives whether from lack of income or out of fear.

The NAFTA superhighway is moving along on schedule – you will have your highways – or I should say toll roads.

As for the “Iraqi Resistance”, after watching a few of their propaganda videos, I wouldn’t believe them anymore than I do BushCo, or the UN for that matter.

By: bozhidar balkas

bozhidar balkas — Tue, 01 Jul 2008 13:10:34 +0000

clifford j wirth,
thanx for the imput.
if u wd look at me u wd instantly know i’m not the man who looks like he knows everything.
but to me cheney, tho not bush, looks like he knows everything.
so, let’s stop worrying.

By: Newsdesk Helsinki Finland (NDHF) Net

Newsdesk Helsinki Finland (NDHF) Net — Tue, 01 Jul 2008 13:09:17 +0000

Oil prices are in direct one-to-one correspondence with the deterioring of the situation in Iraq.

While the media may be able to downplay the truth on the ground in Iraq, they cannot alter the fact that the truth is widely known & understood.

You’re welcome to follow the NDHF Net Iraq war coverage presented by the Iraqi Resistance on our address

NDHF Net (media squad)
27.U.N.J.B.
United Nations (Finland)
http://newsdeskhelsinkifinland.net

By: Clifford J. Wirth

Clifford J. Wirth — Tue, 01 Jul 2008 12:12:06 +0000

Global oil production is now declining, from 85 million barrels per day to 60 million barrels per day by 2015, while at the same time demand will increase 14%. This is like a 30% drop. No one can reverse this trend, nor can we conserve our way out of this catastrophe, because the demand is so high that it will always be higher than production; thus the depletion rate will continue until all recoverable oil is extracted. We are facing the collapse of the highways that depend on diesel trucks for maintenance of bridges, cleaning culverts to avoid road washouts, snow plowing, roadbed and surface repair. When the highways fail, so too does the power grid, as highways carry the parts, transformers, steel for pylons, and high tension wire, all from far away. With the highways out, there will be no food coming in from “outside,” and without the power grid nothing works, including home heating. This is documented in a free 45 page report that can be downloaded and distributed/ emailed: http://www.peakoilassociates.com/POAnalysis.html