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.
I hate thermometers
They are to blame for bad weather, aren’t they?
Everything is speculation. Speculators gonna speculate, as they should.
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.
Mix it all up, and you have rising gas prices.
There are no fewer than 28 “boutique blends” across the states, not including the ethanol blends.
If the refinery capacity we have, was allowed to produce a single national blend, the prices would drop.
This also means we stop the ethanol scam, which is not cost effective to produce.
The attempt to blame speculators is this administration’s refusal to acknowledge the impact of their failed energy policy.
Drill everything...I am sick and tired of politicians standing in the way of energy independence.
If speculators cause high prices do they also get the credit when prices drop? After all traders can make money no matter which way a market moves as long as they are on the right side of the move. Also, it takes two parties to make a trade. If speculators are on the winning side of a trade aren’t the losers also speculators?
i wonder if in dc barry has put little bush faces on the pumps with “It’s His fault!” on them.
seriously. the libtard media is silent bashing the president about this very quick and sharp gas price spike, no poor people filling up complaining thepresident needs to do something, they can’t afford to fill up their cars, bla bla bla...
30 posts and no Bush's fault...Approving the Keystone XL pipeline would likely drive down oil prices. Speculators look at the US as the largest market for oil and giving the US a non OPEC source of oil and improving the access of the North Dakota oil fields to refineries would lessen the US demand for OPEC oil. I would see that as driving oil prices down. The number of jobs the pipeline would create would also be a significant boost to the US economy. However, Obama will pander to the environmentalist whackos and either continue to study the pipeline or tie if approval to an economically devastating carbon tax.