High gas!!! BLAME THE DEMOCRATS
The only way to lower gas is to kick out ALL incumbent politicians, especially Democrats. They have stopped ALL building of Nuclear power plants, has stopped all building of oil refineries, and has put about 90% of KNOWN oil reserves off limits.
Right now Red Communist China is drilling in the Gulf of Mexico, 50 miles from our shores, and our American companies are not allowed to.
Most oil production and exploration has been banned in the USA since 1981.
We have oil off the cost of America, but it was stopped because the environmentalist, and the Democrats who say that the rigs would be unsightly and oil would be spilt.
THESE ARE LIES.
1. The wells will be located at over 100 miles. Because of the curvature of the Earth, we can the horizon we see is about 20 miles away, anything more than that would be invisible.
2. There has not been a major oil spill from a rig in over 40 years. Even though Hurricane Katrina destroyed dozens of oil rigs, NONE OF THEM SPILT ANY OIL.
America has to wake up to the fact that this crisis is the making of the Democrats and Wacko Environmentalist, NOT THE OIL COMPANIES.
Oil companies have been heavily regulated for about 100 years, that means the CONGRESS - NOT the oil companies is responsible.
Talk about Chicken Little’s. Oil prices are high and the Democrats wants to point fingers, instead of releasing the oil companies to drill. But remember for every finger they pointed at the oil companies, there are four pointing back at them.
I will profess my ignorance when it comes to this issue so I don’t mind anybody setting me straight if I am misinformed but this is what I understand so far.
1) normal supply and demand is not the only factor driving the price of oil.
2) Much of the price we are paying at the pump is due to wall street firms buying shares in corporations that are selling agents (ie, chevron, shell, etc) based on predictions about the future profit margins of those corporations.
3) That this speculation in futures is represented by one of the indexes on the NY stock exchange and is what both the selling agents use to set the price per gallon at the pump and what the oil producers use to set the price of crude oil per barrel that exon, chevron, etc buys from them.
4) That while this index is not an accurate measurement of the current value of oil (rather the future value), and is external to the corporations and producers such as OPEC themselves, this index is used by both of them to justify the prices they are setting. That if this index wasn’t used, they’d just use another in some other nation’s stock market. For a lack of a better way to put it, it’s as if they are just using this index to legitimize the prices they are charging.
5) About 40% of our oil consumption already comes from domestic production but oil from our own domestic supply is sold for the same price as foreign bought oil and the only way it wouldn’t be is if we were to nationalize our domestic oil production. (I am not advocating that).
So what is unclear in my mind, since I only have a basic understanding of how the stock market works, is how would an increase in supply of domestic oil stop the type of futures speculation that has been driving up the price of oil? Normal supply and demand is not what seems to be driving much of the price in the first place. Market manipulation seems responsible for much of it. If it is not true supply and demand of a product that is driving the price in the first place, what is to stop the investors from bidding up the price of oil shares in order to increase profit margins for the oil companies so that the shares they are buying are worth more and more?
It’s a win/win for everyone except for those of us who can’t afford to buy so many shares of stocks in oil companies that we are happy to see the price of gas at $4.25 a gallon. I guess if I could afford to buy that many shares in oil companies, I’d be happy to see gas prices at these prices.
I will stand corrected if someone can explain why I am wrong.
[1. The wells will be located at over 100 miles. Because of the curvature of the Earth, we can the horizon we see is about 20 miles away, anything more than that would be invisible.
2. There has not been a major oil spill from a rig in over 40 years. Even though Hurricane Katrina destroyed dozens of oil rigs, NONE OF THEM SPILT ANY OIL.]
The dems and rino liberals plan to destroy the middle class as they continue to drive oil prices up and promise lies of alternative energy sources. It is the politicians way to destroy all peoples every where they can.
[High gas!!! BLAME THE DEMOCRATS
The only way to lower gas is to kick out ALL incumbent politicians, especially Democrats. They have stopped ALL building of Nuclear power plants, has stopped all building of oil refineries, and has put about 90% of KNOWN oil reserves off limits.]
Unfortunately, the American people have been dumbed down and Obama will have prices up over 7 dollars an gallon; stupid is as stupid does and Obama leads by 15 points.