Community Forums

hamguy · 01-02-2008, 02:39 PM

Oil hit $100+ today. Why are we not marching on the Congress to lift the ridiculous bans on oil drilling, gas and coal exploration and nuclear plants.

Personally, I put the survival of our society waaaay above an owl. (And that was a lie also)

I will entertain reasoned comments in the negative. But they better be reasoned, not emotional.

Rick A · 01-03-2008, 08:50 AM

2 things, use the resources available at home to be energy independent and not have to rely so heavily on oil imports and regulate the trading of oil contrtacts to get the speculative traders under control or out of the picture. Rich getting richer, record profits, and the middle class american paying for it at the pump = economy in the toilet. This is exactly what happened in the housing market, and see were that ended up because of pure greed.

hamguy · 01-03-2008, 06:20 PM

<BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">regulate the trading of oil contrtacts to get the speculative traders under control or out of the picture. </div></BLOCKQUOTE>

The problem is that the oil market is global. We cannot do a thing to control, regulate, affect, effect or otherwise alter that market. The reason the market went above $100 is that some trader purposely purchased 1000 bbl of oil (the lowest unit for sale) at $100 and then resold it for $99.40 (a $600 loss). He did it so as to be able to say that oil went above $100.

That shows what renegade traders can do!

Rick A · 01-04-2008, 03:13 AM

Trading on US markets can be regulated through tax laws just as stocks are. There are things the goverment can do to make trading of commodities tougher to help control speculative trading. It will not eliminate the impact completely but make traders think twice before doing things if there are tougher controls in place.

DonavonP · 01-04-2008, 05:32 AM

<BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">Originally posted by Rick A:
Trading on US markets can be regulated through tax laws just as stocks are. There are things the government can do to make trading of commodities tougher to help control speculative trading. It will not eliminate the impact completely but make traders think twice before doing things if there are tougher controls in place. </div></BLOCKQUOTE>

We had a US president who tried to control the US markets and single handedly threw the world economy into a tail spin that resulted in mass shortages of almost all products not just petroleum. He was and is a real nice guy though. I and many of my customers darn near went out of business trying to recover from the wild economic fluctuations. At the peak of the mess, I was ordering product 1 year in advance with no idea what the product would cost.

cb5300 · 01-08-2008, 11:32 AM

Just take the oil off of the commodities market, and don't let it be traded. Also pass a law that all oil that is drilled in the US or it's possessions has to stay in this country. (Alaska oil goes to Japan and to Korea). The President of Shell Oil was on TV last month and stated that one of the reason that the profits are up is that they can buy US oil for high SINGLE digits to low double digits and sell it on the market for 92.00 + a barrel. It's time that we get congress and the White House out of the hip pocket of the oil companies...Here's another thought, may be it's time we break up the oil companies like we did Ma Bell. If there were more oil companies maybe the competition would help keep down prices....Couldn't hurt!

george henry · 01-08-2008, 12:40 PM

[QUOTE]Originally posted by cb5300:
Just take the oil off of the commodities market, and don't let it be traded. Also pass a law that all oil that is drilled in the US or it's possessions has to stay in this country. (Alaska oil goes to Japan and to Korea). The President of Shell Oil was on TV last month and stated that one of the reason that the profits are up is that they can buy US oil for high SINGLE digits to low double digits and sell it on the market for 92.00 + a barrel. It's time that we get congress and the White House out of the hip pocket of the oil companies...Here's another thought, may be it's time we break up the oil companies like we did Ma Bell. If there were more oil companies maybe the competition would help keep down prices....Couldn't hurt![/QUOTE

CB5300 , I totally agree with you.

RVRONINPA · 01-15-2008, 06:05 AM

I think its important to keep it in perspective...car sales , home sales etc heck black Friday wasn't black but to keep things good you must take a roller coaster ride up and down so you can chose to hold on bail out or go the distance...but if we all create panic and sit at home....wel you do the math....this by far is not the worst we've seen ...