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Gas Could Fall To $2 Per Gallon If Congress Acts On Speculators: Analysts

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posted on Jun, 24 2008 @ 10:23 AM
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Originally posted by MikeCobb
Gas prices $2 ????Thats a joke,and not a good one. The very best we might get is around $3.50,but in all likelyhood,it will just stay wherever it is when we solve this problem. I mean,even if we got it down to $60-$70 a barrel,we are already paying over $4,why go down?Thats more profits for the oil guys,and the polititians that are in bed with them.

Another thing,why waste energy arguing over who pays more?The bottom line is we are all in it together and are all being bent over.Us arguing back and forth just takes attention off the people responsible.

And to the guy who said he will get a truck if they drop,I understand where you are coming from,but we need to remember what got us in this mess in the first place.I am glad they are stopping production on the Hummer and wish they would limit other gas guzzlers.I understand people need these big vehicles for work,but there are a lot of people driving them just because.Now I am not mad at them,we are free to buy what we want. But understand,it is just giving oil companies a reason to jack up prices...


Exactly right! Star for you sir. Glad to see there are some who realize that we, the consumer, are to blame for this fiasco. We've been funding this crisis for decades by buying the big SUVs and pickup trucks when we don't need them. The U.S. has gotten away with cheap gas only because emerging middle class economies elsewhere in the world weren't there to put strain on demand. Now that they are, things will change.




posted on Jun, 24 2008 @ 10:27 AM
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reply to post by sos37
 


Common now, when the Big Oil execs go to Congress and testify to the fact that the price of oil is being driven by more than supply and demand; when the producers of oil go on records as saying that prices should be in the 80 to 100 margin and analyst agree then somethings is up.

This stop being an issue of market fundamentals a long time ago and has become an issue of wide variety of funds manager wanting to recover from the losses in the tech and housing sector that had happen in the last 10 years. Now fund managers have a fiduciary duty to get return on their investment but at what cost? Thats what Congress needs to determine.



posted on Jun, 24 2008 @ 10:35 AM
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I totaly agree with Pai Mei. There is no way the price of oil is going down if we have reached Peak oil. And most independant studies prove that we have. Which means that speculation has no significant impact on gas prices. It's all to do with a simple production/demand issue.



posted on Jun, 24 2008 @ 11:15 AM
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Originally posted by maintainright
And for most people who commute by car, I'd put money on it that the distance a commuter drives in the US, isnt that different that what a commuter drives in the UK.

Probably not too much different. I drive about 26 miles or 42 kilometers to work one way and I'm probably average. Hopefully your drive isn't that far.

This doesn't help the poor truck drivers, who make interstate deliveries. They need to drive thousands of miles in many cases.



posted on Jun, 24 2008 @ 11:17 AM
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posted on Jun, 24 2008 @ 11:33 AM
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Why stop at oil speculators? Should ban all commodities speculation. The only speculation that should be allowed is sports speculation.



posted on Jun, 24 2008 @ 11:35 AM
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Gas will never go down IMO!

The USA is going to kill itself by way of suicide by oil.....

The prices of oil are up only for the rich to get richer, the powerful to become more powerful....

So to say that congress is going to drop oil by half, is just silly IMO!

Its just another way for them to control us!

"You wanna pay less, you want to pay less?" "Well too bad!, This ain't over until we are all dead!"

Good luck people, the old paradigm will rule until our friends in the sky intervene.



posted on Jun, 24 2008 @ 11:44 AM
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It most certainly can go down to $2 a gallon. Put on your thinking face and remember back to the congressional elections a couple of years ago. Gas was $3.29 and the country was sweating it. than suddenly gas started to drop. Just before the elections day voting, gas here was $2 a gallon. It stayed there after the elections for about a week before going back up.

Democrats were trying to hold there power with gas manipulating the voters. To bad the voters failed to see the dems act as a reason to keep them in power of congress. The biggest mistake was to put pelosi in. But the neo/nazi cons came out ahead anyway..



posted on Jun, 24 2008 @ 12:02 PM
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reply to post by DimensionalDetective
 


Totally great post. Thanks!



posted on Jun, 24 2008 @ 12:13 PM
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It seems to me that the speculators are forceing the price of commodities up to create a larger profit for themselves.With the dollar at one of the lowest points in history,their gain in shear numbers of dollars is staggering.
When the speculation finally slows down(as it will have to) and the dollar regains strength against other currencies these speculators will double their profit again!

It's all a game and we're paying the price.



posted on Jun, 24 2008 @ 12:18 PM
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reply to post by pai mei
 


Super peak analysis.
Readers at ATS should note BP has found more oil below 'fossil fuel' levels.

The whole playing field may change.
Well some forum had the find posted.

Its back to $2 for one reason or another cause $4 to $5 is hitting hard
at the pumps and the noise level of complaints goes up.
The witch hunt is starting and no one wants to be tagged it.


Soros said index funds and someone said speculators so I bought
an index fund. Every bubble or rising stock has a limit.
From $5 to $2 can't be a bigger bust than $140 crude back to $50.

I just got to see what happens.


en.wikipedia.org...
www.georgesoros.com...
I was blocked on that one but got it on google cache, pass it on.
The web site is under stress.



posted on Jun, 24 2008 @ 12:31 PM
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Isn't this just speculation about speculation?

My personal experiences tell me that gasoline will never drop below three dollars a gallon again in my lifetime, that is unless some free energy source is created, and the supply far out weighs the demand. There will still be a demand for it. All the rich Saudis will need something to fuel all their billions of dollars worth of Bentleys, Lamborginis and Maybachs.

Unless of course someone figures out the trash carburetor from Back to the Future...
DocMoreau

P.S. I honestly think that this 'oil speculation' is being thrust upon the American public, but the world at large, by those who hold the rights to the oil shale in Colorado and Wyoming. 'More Oil than Saudi Arabia, but harder to get at'... I wonder if they have any connection to Dick Cheney?



posted on Jun, 24 2008 @ 01:30 PM
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Originally posted by jhill76
If it went down that low, I am sorry but I will get me a gas guzzler. I just like a truck, because you sit up higher and generally have more room.



I guess we truly aren't learning anything from our current situation. Too many Americans think this way. We really dont have to drive tanks around to get from point a to point b... I think maybe gas should stay this high so we continue to conserve resources. I love my country, but we gotta stop being so wasteful and selfish!



posted on Jun, 24 2008 @ 01:37 PM
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reply to post by DocMoreau
 


Perhaps the $3 may be correct.
All this because of a few hybrids on the market.

What will happen with 'free energy' cars.
All they need is oil for lubrication.
And will be the contaminant that will require engine cleaning.
Speculation will drive oil up sky high or it will be like the diamond industry
and sold at classy shops controlled by the magnate himself, Rockefeller.

ED: 'Free Energy' vehicles might be as big as you want.
Back to trucks for every one with enough room.


[edit on 6/24/2008 by TeslaandLyne]



posted on Jun, 24 2008 @ 01:46 PM
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Originally posted by IMAdamnALIEN
Gas will never go down IMO!
"You wanna pay less, you want to pay less?" "Well too bad!, This ain't over until we are all dead!"



or until we, as a nation, get fed up and start collectively demanding off-shore domestic drilling

You can preserve wildlife up there, AND still have drilling in Alaska.
We have the technology...

its not like we're heading up there with pick axes and rubber hoses, and a gun to shoot any polar bears who happen upon our camp fire



posted on Jun, 24 2008 @ 01:56 PM
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Originally posted by Andrew E. Wiggin

Originally posted by IMAdamnALIEN
Gas will never go down IMO!
"You wanna pay less, you want to pay less?" "Well too bad!, This ain't over until we are all dead!"



or until we, as a nation, get fed up and start collectively demanding off-shore domestic drilling

You can preserve wildlife up there, AND still have drilling in Alaska.
We have the technology...

its not like we're heading up there with pick axes and rubber hoses, and a gun to shoot any polar bears who happen upon our camp fire



The best way to make changes like this is to quit electing the same damn people into the House and Senate time after same damn time.

I really wish we had term limits on these people, on both parties!



posted on Jun, 24 2008 @ 02:10 PM
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Well, they will only be able to regulate the activity of influence on say the New York Mercantile Exchange and how it relates with ICE and the other market. Supposedly the London market is owned by an American company in Atlanta GA.

I also agree with a couple other in that I think this is just testing the waters and creating a diversion (scapegoat). We'll all be so happy to know that gas is going back down that we could care less why it raised up for a little while.

The initial boost from $1.20 to over $2.00 a gallon is a thing of the past that we really don't seem to question these days for some reason.



posted on Jun, 24 2008 @ 02:25 PM
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reply to post by dbates
 


AFAIK it's not OPEC that is causing the prices to get so high. you see the problem today is that everyone thinks it's the oil companies that are causing oil to be so high. it's not.



posted on Jun, 24 2008 @ 02:37 PM
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its so funny how everyone complains about gas and doesnt realize lots of free energy options are being hidden from us, those who invent it are shut up



posted on Jun, 24 2008 @ 02:45 PM
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reply to post by Anonymous ATS
 


show links to these articles "proving" we are in peak oil crisis right now...


we aren't there is till plenty of oil going down, but China is hogging it all up.



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