The Price of Oil over 10 Years

Where Are The Increases Starting At....and Who's pumping it

judicial-inc.biz...

Are The Arabs Pocketing The Trillions In Price Increases?

You Control Oil And You Are King !

You can control diamond, gold, lumber, etc., but people don't have to buy it. Oil is a stranglehold commodity.

Is Saudi Crown Prince Abdul Behind The Oil Hikes?

judicial-inc.biz...

You picture is offensive, like the president is evil or something... Two words
FREE MARKET!!!

Vote Mccain

reply to post by winged patriot


Maybe if you read these articles with an open mind, you will open your mental vision.

www.nogw.com...

George W. Bush - Terrorist in the White House

WAR CRIMES

"They plunder, they slaughter, and they steal: this they falsely name Empire,
and where they make a wasteland, they call it peace."

The Commander and Chief of the Military, Should Be Held Accountable For These Crimes

www.nogw.com...

Originally posted by winged patriot
You picture is offensive, like the president is evil or something... Two words
FREE MARKET!!!

Vote Mccain

With Regards to "Free Market" which is Abused in Mystery.

Here's a Good Article for you to be Enlightened :

The 1928 Plot for Iraqi Oil


In a hotel room in Brussels, the chief executives of the world’s top oil companies unrolled a huge map of the Middle East, drew a fat, red line around Iraq and signed their names to it.

The map, the red line, the secret signatures. It explains this war. It explains this week’s rocketing of the price of oil to $134 a barrel.

It happened on July 31, 1928, but the bill came due now.

www.gregpalast.com...

Why is the Price of Oil US$140

On May 20, 2008 Michael Masters, testified before the Senate Committee on Homeland Security and Governmental Affairs, on the role that speculation has played in recent commodity price movements. He said:

"In the popular press the explanation given most often for rising oil prices is the increased demand for oil from China. According to the DOE, annual Chinese demand for petroleum has increased over the last five years from 1.88 billion barrels to 2.8 billion barrels, an increase of 920 million barrels. Over the same five-year period, INDEX SPECULATORS DEMAND FOR PETROLEUM FUTURES HAS INCREASED BY 848 MILLION BARRELS. The increase in demand from Index Speculators is almost equal to the increase in demand from China!"

Masters is right; there is massive speculation which is distorting the market, but who is responsible? Clearly, the pension fund managers aren't to blame. After all, the largest US pension funds, which is the California Public Employees Retirement System (CalPERS), has only invested about $1.1 billion in commodities swaps contracts. That's a far-cry from $260 billion. The investment giants and hedge funds are probably leveraging the money they receive from the pension funds many times over to increase the size of their bets. Keep in mind, oil futures can be purchased for a mere $.06 on the dollar; that's a lot of potential leverage.

Masters again: "Commodities prices have increased more in the aggregate over the last five years than at any other time in U.S. history. We have seen commodity price spikes occur in the past as a result of supply crises, such as during the 1973 Arab Oil Embargo. But today, unlike previous episodes, SUPPLY IS AMPLE: there are no lines at the gas pump and there is plenty of food on the shelves. Today, Index Speculators are pouring billions of dollars into the commodities futures markets, speculating that commodity prices will increase."

Index Speculators have now stockpiled, via the futures market, the equivalent of
1.1 billion barrels of petroleum, effectively ADDING EIGHT TIMES AS MUCH OIL TO THEIR OWN STOCKPILE AS THE UNITED STATES HAS ADDED TO THE Strategic Petroleum Reserve over the last five years:

"We calculate that Index Speculators flooded the markets with $55 billion in just the first 52 trading days of this year. That’s an increase in the dollar value of outstanding futures contracts of more than $1 billion per trading day.

Stupak's new bill attacks excessive oil market speculation.

Nick Snow
Washington Editor

WASHINGTON, DC, June 20 -- Citing the harmful impacts record high crude oil prices are having on consumers, US Rep. Bart Stupak (D-Mich.) introduced a bill to close regulatory loopholes that he said have allowed commodity speculators to push oil prices upward and profit from the increase.

"For the past 3 years, I have been looking into the excessive speculation occurring on the energy markets. I have done more than just scratch the surface; I've really delved deep into this issue to understand the extent to which market speculation is inflating the price of crude oil," he told reporters before heading to the House floor to introduce the bill.

Stupak, who chairs the Energy and Commerce Committee's Oversight and Investigations Subcommittee, said he has more than 50 cosponsors, including several Republicans, for the legislation, which would place all energy commodities under the Commodity Futures Trading Commission's oversight. This effectively would end exemptions allowed under the 2000 Commodity Futures Modernization Act.

www.ogj.com...'s-new-bill-attacks-excessive-oil-market-speculation/

Just a quick question here...

Do you have any reliable sources that don't come from an anti-Bush website?

Seems to me that I can't take any information bashing GW seriously from a site like nogw.com!

I wonder if that's biased and manipulated?

Originally posted by nyk537
Just a quick question here...

Do you have any reliable sources that don't come from an anti-Bush website?

Seems to me that I can't take any information bashing GW seriously from a site like nogw.com!

I wonder if that's biased and manipulated?

Hi there, true.....bush is now a Trademark for Blunders, he will soon be toplisted in the Book of Blunders. Ok.....it's not me, take a look at some other sites:

www.bushwatch.com...

www.bushwatch.com...

www.prisonplanet.com...

books.google.co.za... oi=book_result&resnum=10&ct=result

ooookay?

I ask you for some reliable sources on this that don't come from anti-Bush websites and you give me bushwatch.com and prisonplanet?

I'm sorry, but I still can't seem to find the story here through all the agenda your pushing.

Agreed. Instead of feeding us links with opinions drawn from a web of AP releases, why not give us the AP links and let us draw our own conclusions?

wait... That would mean making our OWN opinions!

Don't get me wrong, I'm all for pushing an agenda, but you've got to use the right sources. Unbiased ones.