Posted on 02/23/2013 8:22:15 AM PST by Kaslin
The real problem is inflation and printing money.
Senator Gillibrand’s own words, from the 10/22/2009 Wall Street Journal, show that the real purpose of Barack Obama’s climate change legislation is to give Wall Street speculators yet another tulip bulb scheme to replace the mess (mortgage backed securities) for which we are still paying with a $750 billion stimulus package, various bailouts at the taxpayers’ expense, and ten percent unemployment.
http://online.wsj.com/article/SB20001424052748704500604574481812686144826.html
In other words, Senator Gillibrand says openly what we have said for quite some time: the real purpose of cap and trade is not to protect the environment, but to line the pockets of fat-cat SPECULATORS who cannot produce goods or services that are of genuine value to society. Oil and gas provide us an actual service of value.
I was reading Popular Science last night and it seems the Feds have approved thousands of acres of public land for private company use to place solar arrays on.
Now, just looking at massive solar arrays, they sure don’t look like they would be benign to me when it comes to affecting the environment. Certainly they would affect it at least as much if not more than the number of wells that would be on the same size plot of land.
I think all factors are in play here. Speculators can drive up prices when the supply margin is tight. And the supply margin is tight due to refinery closures and maintenance.
Yes, Oil is traded in dollars. As the dollar weakens the price of gas goes up. As the dollar strenghtens the price of gas goes down. That and the fact that we do not have enough refineries to refine the oil into gas are the problems.
I hate thermometers
They are to blame for bad weather, aren’t they?
Everything is speculation. Speculators gonna speculate, as they should.
I think the problem is Goldman Sachs.
Not to mention paying roughly $0.55 per gallon to provide fed & states with a slush fund. Crumbling roads and bridges take a backseat to choo-choo trains, lefty environweenie bureaucrats and non-transportation budget items.
If you grounded Air Force 1 then there would then be enough fuel for everyone.
No one will ever find an easy answer to a complex problem. Still, they insist.
Price of crude oil goes up, gasoline goes up. Price of crude oil declines, gasoline stays up.
Until they are absolutely DROWNING in gasoline. Until then, export enough so that the domestic supplies remain tight.
When this question was asked the previous two or three times over the past couple of years, I was firmly in the camp blaming the speculators, and I’m quite sure that that was correct then.
But this time I’m with others here that blame Fed counterfeiting driving crude-oil and stock market inflation. As before, supply and demand in no way explain these prices.
Remember that this is exactly what Obama said he wanted (correction: we are now about half-way to the gas prices he wants....)
FYI, Depending where you travel, premium is now $4.39 at cheapo stations (with long lines so you can’t get in) to $4.89 (no lines), and rising.
The problem , to me, seems to be that it is traded on the market. anything that is on the market has the added pressure of keeping the shareholders happy and not the people buying your product. If it was actually only a supply and demand thing i don’t think we’d see this daily changes.
Pigs get fat.
Hogs get slaughtered.
Enter financial speculation. Commercial end-users of oil such as airlines and trucking companies who once dominated 70 percent of the market for market for future deliveries of oil now represent just 30 percent. Non-commercial financial speculators now dominate 70 percent of the market. The trading is dominated by Wall Street banks, hedge funds and other financial institutions that have no intention to take delivery of the oil needed to make gasoline.
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