Stop being a Gashole!

Originally posted by OccamAssassin


No it is not, it is due to speculation

Speculation???


Are you playing with me?

In finance, speculation is a financial action that does not promise safety of the initial investment along with the return on the principal sum.[1] Speculation typically involves the lending of money for the purchase of assets, equity or debt but in a manner that has not been given thorough analysis or is deemed to have low margin of safety or a significant risk of the loss of the principal investment. The term, "speculation," which is formally defined as above in Graham and Dodd's 1934 text, Security Analysis, contrasts with the term "investment," which is a financial operation that, upon thorough analysis, promises safety of principal and a satisfactory return.[1]
In a financial context, the terms "speculation" and "investment" are actually quite specific. For instance, although the word "investment" is commonly used to mean any act of placing money in a financial vehicle with the intent of producing returns over a period of time, most ventured money—including funds placed in the world's stock markets—is technically not investment, but speculation.
Speculators may rely on an asset appreciating in price due to any of a number of factors that cannot be well enough understood by the speculator to make an investment-quality decision. Some such factors are shifting consumer tastes, fluctuating economic conditions, buyers' changing perceptions of the worth of a stock security, economic factors associated with market timing, the factors associated with solely chart-based analysis, and the many influences over the short-term movement of securities.
There are also some financial vehicles that are, by definition, speculation. For instance, trading commodity futures contracts, such as for oil and gold, is, by definition, speculation. Short selling is also, by definition, speculative.
Financial speculation can involve the trade (buying, holding, selling) and short-selling of stocks, bonds, commodities, currencies, collectibles, real estate, derivatives, or any valuable financial instrument to attempt to profit from fluctuations in its price irrespective of its underlying value.

en.wikipedia.org...

reply to post by beezzer


There are more oil companies in America than in any other nation on the planet. Don't try and tell me there's not enough competition.

Opening new refineries won't lower prices. In fact, they're extremely detrimental to the environment and anyone within a 100 mile radius. Drilling more wells won't lower prices. We continally have a surplus of oil on hand. It's not supply and demand at work.

As Janky Red has been pointing out, it's oil speculators telling their bosses that the price of crude might go up next year so they should raise prices now to continue to draw a profit. Except, the price barely moves and prices still go up and stay up. Eliminating government intervention will make the problem worse.

In 2008 Exxonmobil made $45 billion in profit. That same year you and I gave them an extra $4 billion in tax subsidies. They also spent $27 million on lobbying that year.

Government isn't the problem, greed is.

If you subscribe to Netflix, watch Gashole. If you don't subscribe to Netflix, subscribe for one month and watch Gashole.

Good post, Janky. And right on the money. The price of gasoline has risen completely out of proportion to inflation, and we're being fleeced.

/TOA

i'm not a gashole, i ride bikes.

Let thank the corruption of the American Oil Mafia backed by our own for the people government, the speculators are no only robbing us dry but they are the ones that weakens the dollar that is peg to the Oil in order to make the most profits.

We are an oil producing country where our resources are in the hands of the private sector and they are doing whatever they want to protect their profits even manipulation and they don't care about the nations citizens.

They rather crap on the tax payer than lose a penny, welcome to Capitalism in America but the corrupted version.

Thats what monopolies will do to prices.

Instead of worrying about making gas cheap again, how about we worry about getting rid of it altogether? If national security was so important to us to go into all these wars you would think this would be the #1 priority since it can be used against us so easily, but they would rather make money instead.

reply to post by A-Dub


Any body should read about the Oil wars it tells the real issues behind the take over of the middle east.

A littler history to refresh the memory lane of why we are in the situation we are todya.

July 10, 2006

One year before he became US Vice President, Dick Cheney told an audience of oil company executives in London that, "y 2010 we will need on the order of an additional fifty million barrels a day … While many regions of the world offer great oil opportunities, the Middle East with two thirds of the world's oil and the lowest production cost, is still where the prize ultimately lies."

The agenda is still in full gear even under the Obama administration but the effects are not what was expected the whole greedy agenda is coming back to bite us in the arse.

www.globalpolicy.org...

Originally posted by beezzer

Originally posted by links234
reply to post by beezzer

 

You're missing the point beez...you're getting ripped off by the oil companies. If they build new refineries they'll increase their prices to 'cover the costs' of the new refineries. Open up new drilling sites? They'll do the same thing.

$30 billion in profit? Not enough to cover the costs, sorry, you need to pay another dollar per gallon.

Record prices=record profit, there's no external reason for the price increase. They're doing it because they can, it's collusion, conspiracy and price gouging.

You're getting f*d by the corporations and you're still blaming the government.

Sure the oil companies are gouging.
But not opening up drilling won't decrease price either.
Get rid of the EPA wee'ing themselves over every square parcel of land. Open drilling up to new corporations, new businesses, and competition will bring the price down.

there are 6,500 leases currently being "un drilled" in the U.S...

It won't bring the price down, because there is no motivation to reduce the premium they have built into the price.

You wouldn't sell a pizza for $4.00 when you could make $14.00 and sell the same amount of pizza.

I think you and the crowd that starred neon's post... www.abovetopsecret.com... (but didn't bother trying to disprove anything) ... have a fundamental problem.

1.You guys can't admit that you are for the status quo.

2.Because admitting there is a problem would mean you would have to challenge all the ideas you hold,
so you think

3. The worst part of it is, you pay for it, even though deep down you know you are being screwed.

4. My problem is, I have to be gouged cause you all cannot get over your own ego's and fear

Otherwise we would all be in agreement and we could end oil speculation in the market.

Instead, we can legalize the practice of gambling on oil, online, separating it from the actual price of the
commodity itself.

I vote for plan C. Make a deal with China (who leads in green technology) and contractually obligate both nations to finance and build a joint effort infrastructure of completely green power and to subsidize electric autos which, in turn, could be recharged exclusively by solar-powered charge stations.

How can we pay for this? By continuing to drill oil and sell it as export-only. In addition, jack up the price of all the green tech China has the corner on for exporting. This would not only balance out but end up making the US (and China) the next oil (energy) barons. Texas would be the new Saudi Arabia.

reply to post by OccamAssassin


Yes but what if the 1 dollar price was already over priced to begin with and inflation would only make the original gouge worse.

reply to post by Janky Red


enjoyed your post but i'm not seeing what getting mad is going to do to help. i can be mad for the rest of the year but it won't changes prices at the pump or get better gas mileage from the car i drive.

i'm wondering how painful this winter will be as i know our house will not be very warm. fuel is too expensive. even then, getting mad won't lower the prices. i'm already been mad at the people who service our furnace, but that's because their service people are liars, as are their customer service personnel. there too, being mad solved nothing. it's a small town business filled with inept & inexperienced workers due to nepotism. but we're under contract, having bought a new furnace from them. PS: the System 3100 is a waste of money. If i knew then what i know now we never would have bought 'top of the line'. that said, getting mad has had no benefit.

i think we might want to re-visit the 'getting mad' technique in favor of something that may yield results.

Every employee of the oil companies has a need for increased wages. They need more money to pay for more expensive dental care for little jimmy. They need more money to buy food which has risen in price. They need more money to pay for movie tickets which are like ten bones a pop and 8 for a popcorn now-a-days. Every employee of the oil company needs more money to buy blue rays which are like 30 dollars per movie. They need more money for alcohol which has risen in price. They need more money to buy cigarettes which are like ten bones per pack now. They need more money for back to school clothes for little suzy because the price of clothes has risen.

ERGO, you need to pay more for gasoline so the oil companies can pay more for their employees so their employees can pay more money at the optometrist so that Mark can see better so that the optometrist can pay more money for medical malpractice insurance so that the guy selling insurance at the insurance agency can pay more for frosted flakes so kelley can grow big and strong and be a better soccer goalie for her teams school sports program so that Xing Xaung can get paid $0.05 per hour manufacturing everything in a factory in china. The End. And we all lived happily ever after.

I would like to add that in 1972,August of that year I bought my first car. The price of gas was 24 and 9 tenths of a cent a gallon. Cost me 5 bucks to fill a 21 gallon tank.

There should be no doubt that we are getting gouged. For a while the oil companies said that the price of gas was tied to the price of oil. Clearly that was a lie.A comparison of oil prices and gas prices blows that one out of the water.

Then they said that the price was tied to consumption and in a supply and demand economy the price rose with demand. Then cars started getting more efficient and used less gas. So another lie as the price continued to rise.

Now the new lie is that it is the speculators in the commodities market. Once again tying the price of oil to the price of gas. Then the price of oil dropped and the price of gas stayed the same or dropped a small amount.

How long do we continue to believe the lies and pay the price that is artificially set by them? There was a refinery near where I live. It was about 10 years old and they shut it down and tore it down. I talked to a guy who had worked there and he said that they told the workers that It was torn down due to a clerical error. It was supposed to have been a different refinery that was much older that was supposed to be axed,but by the time the error was discovered it was already too late. Jeez wonder why all the refineries are so old. I wonder how many newer refineries were also torn down due to a "clerical error".

reply to post by Janky Red

This is part of the "plan" Obama and his energy czars/administrators/regulators have to drive us into poverty and dependence.

Mr. Chu has called for gradually ramping up gasoline taxes over 15 years ... .
"Somehow we have to figure out how to boost the price of gasoline to the levels in Europe," Mr. Chu ... said in an interview with The Wall Street Journal in September.

Times Tough for Energy Overhaul

Last fall, before Chu was appointed to the DOE, he advocated for U.S. gas prices to rise in line with European prices. His argument ... was that it would be a smart way to nudge the consumer towards efficient automobiles.

articles.businessinsider.com...

Just as an increase in the quantity of oil decreases the value (i.e. price) of oil, an increase in the quantity of dollars decreases the value of dollars. This means more dollars are required to purchase the same amount of oil. Sellers of oil will demand more dollars for each barrel because the dollars they are receiving buy them less ... . As the Fed pursues a policy of keeping the value of the dollar low relative to other currencies, it’s driving up the price of oil.
So you have Ben Bernanke to thank for some of the sticker shock at the Chevron.
If President Obama is truly concerned about reducing oil prices, ... he should take a look at the policies of his own Fed chairman, Ben Bernanke. It’s the Fed’s manipulation of the supply of dollars ... that is responsible for oil and gas prices being as high as they are.

washingtonexaminer.com...

A new report from the House Committee on Oversight and Government Reform details a disturbing “pattern of evidence” indicating that not only are the Obama administration’s energy policies responsible for higher oil and gas prices, but that the administration’s energy policy, in fact, is higher gas prices.
The report’s findings ... reveal “a pattern of actions [that] shows the Administration is, in fact, pursuing an agenda to raise the price Americans pay for energy.”

Report Finds Obama Policies to Blame for High Energy Prices
Obama administration deliberately driving up fuel costs.

In February 2010, the Obama administration quietly and surreptitiously set in place significant regulation and taxation of CO2: "the Social Cost of Carbon (SCC)." According to economist Frank Ackerman, “it is the most important number you’ve never heard of.”
www.e3network.org...
Between the middle of 2009 and February 2010, hand-picked members the Council of Economic Advisers, the OMB, the Council on Environmental Quality, National Economic Council, Office of Energy and Climate Change, Office of Science and Technology Policy, the EPA and the departments of Agriculture, Commerce, Energy, Transportation and Treasury — but no outside organizations -- cobbled together, with no public debate, a private "consensus" on how to price carbon in the U.S.

The SCC figure adopted last February is $21per ton of CO2 (about two weeks' use of your car). The value has already been applied to standards for fuel efficiency, and tailpipe emissions. It will be figured into any carbon mitigation strategy, whether cap and trade, cap and dividend or carbon tax.

www.miller-mccune.com...
It has also been applied to new appliance efficiency costs and standards, and is being considered for industrial and power-generation applications as well. The initial rate in the UK was approx. $43/ton; it is now closer to $125. Once imposed, the "creep up" is inevitable.

(Think back to 2009, when OMB was estimating costs of carbon tax -- they "guessed" up to $8,000+/year!)

Have you noticed higher gasolines prices? SCC adds at least $0.20 per gallon!
Has anyone else seen higher electric, heat or food prices?

And, this is when the Feds were warning about deflation. As with everything else about the Obama administration, say one thing, do the opposite!

The catch is that the added costs have been slipped into our regulatory apparatus unannounced and without public debate!

Obama secretly sneaks carbon tax on almost everything!

jw

reply to post by Janky Red

Of course, for the true liberal/progressive/Obamaphytes, gas isn't high enough!

Forget the regressive nature of making the poor spend most of their incoime on necessities like energy, food and transportation; rhe "smart" economists like Thomas Friedman want to see (like Obama) energy prices "skyrocket."

There is only one effective, sustainable way to produce “green jobs,” and that is with a fixed, durable, long-term price signal that raises the price of dirty fuels and thereby creates sustained consumer demand for, and sustained private sector investment in, renewables. Without a carbon tax or gasoline tax or cap-and-trade system that makes renewable energies competitive with dirty fuels, while they achieve scale and move down the cost curve, green jobs will remain a hobby.

President Obama has chosen not to push for a price signal for political reasons. He has opted for using regulations and government funding.

We need revenue to balance the budget. We need sustainable clean-tech jobs. We need less dependence on Mideast oil. And we need to take steps to mitigate climate change — just in case Governor Perry is wrong. The easiest way to do all of this at once is with a gasoline tax or price on carbon. Would you rather cut Social Security and Medicare or pay a little more per gallon of gas and make the country stronger, safer and healthier? It still amazes me that our politicians have the courage to send our citizens to war but not to ask the public that question.

www.nytimes.com...

jw

I absolutely think that the prices are too high.......But they run the show. I believe there is no way that these fat cats will ever let go until every last drop is gone.

I drive over 650 miles a week to work and back home. I drive a crappy 98 Dodge Neon that gets pretty good gas milage. It costs me about $15.00 a day round trip..I wish it was only about $7.00 or less, but until I build a no gas ride myself, it is'nt going to happen..........


Fn sob's......I really dislike big oil

reply to post by liejunkie01


Big oil? They wouldn't be where they are without Big Government! Did you bother to read the thread before posing?
(yes, posing)

jw

reply to post by jdub297


Today reading some news and the Q3 implementation the Fed with Obama are going to take this nation to the ground worst than Bush ever did, why I will blame Obama also?, because he had the power to stop the paper toilet printing money and he is not going to do it.

Watch for what is coming our way in the next two days, the Markets are going to flourish on toilet paper, also the gas prices are going up baby up, up and up.

Originally posted by Cuervo
I vote for plan C. Make a deal with China (who leads in green technology) and contractually obligate both nations to finance and build a joint effort infrastructure of completely green power and to subsidize electric autos which, in turn, could be recharged exclusively by solar-powered charge stations.

How can we pay for this? By continuing to drill oil and sell it as export-only. In addition, jack up the price of all the green tech China has the corner on for exporting. This would not only balance out but end up making the US (and China) the next oil (energy) barons. Texas would be the new Saudi Arabia.

Now you want to shift our National energy policy into the hands of the Chinese. The very same people that run the equivalent to slave labor to produce a sub par product. Now you will have entry level cars starting at $40k.. Gone will be the $9-$12k cars.

On top of that you will have to rebuild/add on to the existing infrastructure to accommodate everyone charging the their shiny new POS car. Then we will have to calculate a way to charge everyone for their charging.....

Now in the Chevy Volt the battery weighs 435lbs. The manufacturer warranties it for 8 years or 100,000 miles. Source


In 2008 there were 137,079,843 passenger cars (only passenger cars) registered in the use Source

So we as consumers need to spend approx $5,483,193,720,000. Just for new rides. Then in 8 years we can expect to see 59,629,731,705 lbs of Li-on battery waste get dumped into our landfills. Since the cost associated with recycling Li-On batteries far out weigh the gain these in most cases will not be recycled.

Aside from all of that. Solar recharging stations are not all that great either.. Let us review some reason why:Source

-Cost
-Need For Sunlight
-Pollution (Most PV solar panels are made from silicon and include potentially toxic metals such as lead, mercury and cadmium)
-Reliability
-Inefficiency (Currently, most solar panels have a 40% efficiency rate)
-

Perhaps plan C needs some work.

Originally posted by jdub297
reply to post by liejunkie01

 

Big oil? They wouldn't be where they are without Big Government! Did you bother to read the thread before posing?
(yes, posing)

jw

Do what?

Is this thread not about oil?