Replies

Your legislation will not affect other world markets only the U.S. . So it is ridiculous to propose that as a solution as there is speculating going on in oil futures in many other world markets like London, Dubai, Asia etc. . The laws in these other countries are NOT the same as in the U.S. Funny how all these speculators in different countries with different laws agree on the price of oil. You and Pelosi cannot affect London or Dubai etc . The democrats or whoever is promoting this legislation is lying through their teeth when they say it will solve the problem because A. an imbalance in supply and demand is causing the rising prices not speculating on oil futures and B. this legislation would not stop speculating in other world markets, in London, Dubai , in parts of Asia etc..

You, AndyJackson are repeating the Democrats/Marxists’ talking points, blaming the speculators etc. Your post sure sounds like Democrat talking points to me.

The fact is that speculators and oil companies are not manipulating oil prices. Oil prices are rising because supply has not kept up with demand since 2005. That’s simple economics. World Oil production has barely risen since 2005 while world oil demand has skyrocketed during that time.

http://en.wikipedia.org/wiki/Peak_oil#Production

“World oil production growth trends were flat from 2005 to 2008. According to a January 2007 International Energy Agency report, global supply (which includes biofuels, non-crude sources of petroleum, and use of strategic oil reserves, in addition to crude production) averaged 85.24 million barrels per day (13.552×106 m3/d) in 2006, up 0.76 million barrels per day (121×103 m3/d) (0.9%), from 2005”

Economic shortage is a term describing a disparity between the amount demanded for a product or service and the amount supplied in a market. Specifically, a shortage occurs when there is excess demand; therefore, it is the opposite of a surplus.”
http://en.wikipedia.org/wiki/Economic_shortage

So there is a shortage because supply has not kept up with demand. You should learn about definitions and economics and stop believing the Democrats/Marxists and the liberal/Marxist mainstream media.

I believe in free market capitalism .What do you believe in an economy regulated by government idiots or in full Marxism/socialism? It seems like you are a Marxist to me since you believe government can better run the economy than free market speculators. I believe in no regulation by government. Read Hayek, Friedman's Free to choose and Ayn, Rand to see that free markets works but socialism/government planning doesn't : Genius Hayek destroys Socialism/government planning

I'll meet you here next year to see that the price of oil will be at least $200 per barrel . If this rise in oil prices were a speculative bubble or driven by speculation then it will surely pop soon. But it won't because the price is being set by the law of supply and Demand not speculation.

Your name calling says more about you than me and name calling from anonymous posters on the Internet doesn't bother me. I picture you in a rabid rage, calling me names. It is just amusing to me that words on a screen can get others angry.

Your legislation will not affect other world markets only the U.S. . So it is ridiculous to propose that as a solution as there is speculating going on in oil futures in many other world markets like London, Dubai, Asia etc.

The legislation to reclassify investment banks as speculators rather than as "commercial operators" would seem at worst harmless, so why does the proposal to do so get your dander up so much that you call those who propose it, or those who think it a good idea, Marxists?

From your vehemence it sounds like you are one of the pigs with his snout in the trough.

And by the way you ignorant lout, had you read what I wrote, I had already attributed the problem to inelastic supply and demand curves, which is why keeping speculation under wraps actually matters in the first place.

I believe in no regulation by government.

I believe in a lot less regulation. But I think laws against fraud, murder, theft, rape, driving down a public street at 200 MPH are in our best interest.

And BTW the reason we have a lot of economic regulation is because it turns out the having the world run by unregulated monopolies is worse than government regulated monopolies. Perhaps you would like a return to the unregulated days of the Trusts before that great socialist reformer, our first Marxist president, Teddy Roosevelt. Me, I think he moved in a necessary direction.