Posted on 07/05/2009 6:01:39 PM PDT by kcvl
Oil price surge 'jeopardizes global recovery'... Developing...
Volatile Swings for Price of Oil Hobble Industry
The instability of oil and gas prices is puzzling government officials and policy analysts, who fear it could jeopardize a global recovery. It is also hobbling businesses and consumers, who are already facing the effects of a stinging recession, as they try in vain to guess where prices will be a year from now — or even next month.
http://www.nytimes.com/2009/07/06/business/06oil.html?ref=business
Oh, please. Now they will blame the oil prices instead of stupid government for government’s failures.
Duh. That’s a big part of what tanked the economy starting 18 mo ago.
It’s time to release all of the headlines they used a year + ago.
then stop printing money and make oil investment to increase supply difficult
I think the price of oil is being manipliated to make sure Russia gets enough money to service the estimated $400B in debt mostly to Western European Banks.
John
DRILL HERE! DRILL NOW! Wind, Sun and personal methane reclamation is not going to work.
Yes and then the democrats ran away from the problem and went on vacation.
No drill here, drill NOW! results in market manipulation. Blame can easily be placed at the feet of Nazi (NO oil for YOU!) Pelosi.
How about fixing our financial system so you have 25% minimum margin requirement to trade in oil futures? I’ll guarantee the price of oil will immediately nosedive because a lot few speculators will want to trade in oil futures if you have to pay 25% of the cost of the product just to trade in it on a mercantile exchange market.
Jeepers, didn’t benchmark crude for August delivery close at something like $66.14 a barrel just before the 4th? How is that a surge?
One of zero’s FIRST acts in office was to halt all offshore drilling.
ZERO OWNS THIS.
DHDN! DHDN!
Meh, just get Barry to bow a few more times to the King of Saudi Arabia and he can OPEC to lower oil prices. /sarcasm
Would the higher margins apply both tolong and short speculators?
Wait till Crap and Trade kicks in. You ain’t seen nothing yet.
I’d apply it to both long and short speculators. Even a rich person dabbling in the oil futures market like George Soros would not want to do this if his investment fund has to put up 25% of the cost of the item just to trade in it.
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