Government Forcing Gas Prices Up So We Go Green?

[rlt7272]

Wow. He must have a LOT of control over the middle east and private speculators.

"private speculators" being the bigges contributors to the problem. They will take any news and spin it into higher prices because, guess what, that is how they make money.

I am sure the Obama policies are not helping but the last time this happened it was traced back to the speculators being one of the main root causes.

http://www.jubileeinitiative.org/riggedoil.html

http://www.heatingoil.com/blog/opin...-as-strong-as-ever-we-need-regulation-now316/

 

[Plinker]

Anyone have data on when 'speculation' was allowed? Better yet, why is it allowed?!

 

[JD8]

He does, he can impact global supply buy shutting down or throwing up roadblocks against domestic production...which his administration has already done. It's not a myth or an opinion.

What roadblocks? Either way, just curious how it's affected the refiners, drillers, oil service industry, etc? Because this is y'alls little secret. Currently, we reportedly have more surplus than any time in the Obama administration.

 

[rlt7272]

It is no secret that world wide oil production is declining. That is the nature of the industry. What needs to be looked at is the sudden spikes in price and how they are normally surrounded by some "news". Hurricane in the gulf, unrest in a country whose production export is very insignificant to the domestic import.

 

[JD8]

"private speculators" being the bigges contributors to the problem. They will take any news and spin it into higher prices because, guess what, that is how they make money.

I am sure the Obama policies are not helping but the last time this happened it was traced back to the speculators being one of the main root causes.

That's all I'm sayin. Certain media sources aren't helping, and when oil industry experts like those in Cushing, OK get on TV and say we are just fine capacity wise.... nobody listens.

But it's Obama.

 

[rlt7272]

Anyone have data on when 'speculation' was allowed? Better yet, why is it allowed?!

Speculation has been around for awhile. Oil futures are traded no differently than cattle or grain. Why it is allowed is simple, there are huge profits to be made if you are smart enough (of course I am not smart enough)

 

[rlt7272]

That's all I'm sayin. Certain media sources aren't helping, and when oil industry experts like those in Cushing, OK get on TV and say we are just fine capacity wise.... nobody listens.

But it's Obama.

I agree and I saw that same report. All that supply of crude is not doing us much good if we cannot get it refined.

Opening up a refinery or too would help, but that is completely out of the question.

 

[Old Fart]

Saw this on Greybeards forum this morning. Quite interesting.

The obama administration is asleep at the wheel on a real Energy Policy. We are becoming more and more dependant on imported oil. This administration has slowed down the permiting process for domestic drilling to a near stop. Oil companies are not going invest and build refineries. We have the domestic supply inthe ground. We just need to get it out so we can stop exporting JOBS and our Money.

Here's an astonishing read. Important and verifiable information :

About 6 months ago, the writer was watching a news program on oil and
One of the Forbes Bros. Was the guest. The host said to Forbes, "I am
Going to ask you a direct question and I would like a direct answer;
How much oil does the U.S. Have in the ground?" Forbes did not miss a
Beat, he said, "more than all the Middle East put together." Please
Read below.

The U. S. Geological Service issued a report in April 2008 that only
Scientists and oil men knew what was coming, but man was it big. It
Was a revised report (hadn't been updated since 1995) on how much oil
Was in this area of the western 2/3 of North Dakota, western South
Dakota, and extreme eastern Montana ..... Check THIS out:

The Bakken is the largest domestic oil discovery since Alaska 's
Prudhoe Bay , and has the potential to eliminate all American
Dependence on foreign oil. The Energy Information Administration (EIA)
Estimates it at 503 billion barrels. Even if just 10% of the oil is
Recoverable... At $107 a barrel, we're looking at a resource base worth
More than $5.3 trillion.

"When I first briefed legislators on this, you could practically see
Their jaws hit the floor. They had no idea.." says Terry Johnson, the
Montana Legislature's financial analyst.

"This sizable find is now the highest-producing onshore oil field found
In the past 56 years," reportsThe Pittsburgh Post Gazette. It's a
Formation known as the Williston Basin , but is more commonly referred
To as the 'Bakken.' It stretches from Northern Montana , through North
Dakota and into Canada . For years, U. S. Oil exploration has been
Considered a dead end. Even the 'Big Oil' companies gave up searching
For major oil wells decades ago. However, a recent technological
Breakthrough has opened up the Bakken's massive reserves..... And we
Now have access of up to 500 billion barrels. And because this is
Light, sweet oil, those billions of barrels will cost Americans just
$16 PER BARREL!

That's enough crude to fully fuel the American economy for 2041 years
Straight. And if THAT didn't throw you on the floor, then this next
One should - because it's from 2006!

U. S. Oil Discovery- Largest Reserve in the World

Stansberry Report Online - 4/20/2006

Hidden 1,000 feet beneath the surface of the Rocky Mountains lies the
Largest untapped oil reserve in the world. It is more than 2 TRILLION
Barrels. On August 8, 2005 President Bush mandated its extraction. In
Three and a half years of high oil prices none has been extracted. With
This motherload of oil why are we still fighting over off-shore
Drilling?

They reported this stunning news: We have more oil inside our borders,
Than all the other proven reserves on earth.. Here are the official
Estimates:

- 8-times as much oil as Saudi Arabia

- 18-times as much oil as Iraq

- 21-times as much oil as Kuwait

- 22-times as much oil as Iran

- 500-times as much oil as Yemen

- and it's all right here in the Western United States .

HOW can this BE? HOW can we NOT BE extracting this? Because the
Environmentalists and others have blocked all efforts to help America
Become independent of foreign oil! Again, we are letting a small group
Of people dictate our lives and our economy.....WHY?

James Bartis, lead researcher with the study says we've got more oil in
This very compact area than the entire Middle East -more than 2
TRILLION barrels untapped. That's more than all the proven oil
Reserves of crude oil in the world today, reports The Denver Post.
Don't think 'OPEC' will drop its price - even with this find? Think
Again! It's all about the competitive marketplace, - it has to. Think
OPEC just might be funding the environmentalists?

Got your attention yet? Now, while you're thinking about it, do this:

Kick the liberals OUT! If you don't take a little time to do this, then you
Should stifle yourself the next time you complain about gas prices - by
Doing NOTHING, you forfeit your right to complain.

Now I just wonder what would happen in this country if every one of you
Sent this to every one in your address book.

By the way...this is all true. Check it out at the link below!!!
GOOGLE it, or follow this link. It will blow your mind.
http://www.usgs.gov/newsroom/article.asp?ID=1911

 

[sigsilly]

Saw this on Greybeards forum this morning. Quite interesting.

The obama administration is asleep at the wheel on a real Energy Policy.

<snip>

OPEC just might be funding the environmentalists?

<snip>

By the way...this is all true. Check it out at the link below!!!
GOOGLE it, or follow this link. It will blow your mind.
http://www.usgs.gov/newsroom/article.asp?ID=1911

Obama is owned by people like George Soros. Why do you think Obama was pushing the cap and trade issue?
It will make money for a very few select.
We're fooked with him as President.

 

[KOPBET]

There is no such thing as a "green" vehicle available to buy today, and there won't be as long as the so-called "green" vehicles use batteries that have to be charged with electric power generated from fossil fuels.