You can also save money by making gas at home
Supply side manipulation, and big money manipulation, and government regulations all contribute to higher oil prices. Raising margin requirements, as regulators like Eric Bolling wish to do, will do nothing but run small traders out of a job. Prices will be unaffected. Eric Bolling's ilk are regulators--they are in the business of screwing entrepreneurs--not monopolistic Big Oil and its price fixers. State controlled oil has been, and always will be a disaster for prices.
The focus of Newt's campaign has been energy policy. The program talked about many things that Newt's visionary solutions have brought to the public discussion and it was disappointing to have FOX not give any credit to Newt, for making this issue a priority during the primary process.
The problem isn't that we don't know how to get fuel prices down, the problem is that Obama doesn't want them to come down. He actually campaigned on higher fuel prices to push his green energy fantasy, and made statements that fossil fuels and coal will be regulated out of business. And the Obama fools elected anyway and for some reason now even some of those people are upset with the price of fuel.
speculation is not the cause the one is...once the one is kicked out the prices will automatically drop as the market confidence rises
I am guessing that you are being a bit sarcastic. I said "Wow" as a shout out to Palin as a former Oil and Gas Regulator. Who better than Palin (along with her team) came up with ACES (Alaska's Clear and Equitable Share). She knows the subject better than anyone else.
I know, I know. She is beautiful and looks like a stunning hostess or assistant to Eric Bolling but let's be fair; all of the details on that show are based primarily on own her experience and research.
Those who do not want to use American resources blame the world market and speculation for the high prices. Those things play a part, certainly, but with the oil and gas resources we now have access to right here, if we make it known that we are going to become energy independent using our own resources, and the oil companies know that new leases and permits will be rewarded and new areas opened, and we fully approve the XL Pipeline, etc... prices will begin to come down because the prices are reactionary, and once our production is actually increased, prices will drop significantly.
Sound and honest money, would force the market prices to adjust. As long as fiat money exists without a fixed standard, (like gold or silver), there are mutations created in a society, that eventually must end in calamity. If true goods and services were based on honest money, how many people are going to give up this money for foolish entertainment, and other foolish things of that nature? Mr Paul is the only person that would lawfully address the issues of energy and an honest money economy. Many good intentions out there, but pride, covetousness, and compromise, dominate the landscape.
The most striking visual of the show was the saucer of pennies representing the oil demand versus the fish bowl of pennies representing the oil traded.
The second-most striking visual was the pyramid which showed the very tiny tip which represented the Obama lie of "2% of the world reserves".
This is all nothing but a shell game.
The spec buyers buy, buy, buy, the price goes up and they sell, sell, sell.
The stock market manipulators buy, buy, buy, The average goes up and everyone jumps in looking to gain a little ground, BUT, then the manipulators sell, sell, sell, pushing all the prices down. Who loses? The smaller, or fund investor. The money-men don't lose anything because the price just reverts to where they got in. A good reaket if you got a ton of dough.
Next comes the wonderful FED, they print ungodly amounts of cash and loan it to the spec buyers and market manipulators at 0% interest and they use this FREE MONEY to buy up EVERYTHING, thus forcing UP the price of everything from soup to nuts.
If you think this is ONLY Oskidmark's fault, you are wrong.
This is a systemic problem and can only be fixed by revamping the entire system.
I liked the idea of the other poster that said, "if you buy futures, then you MUST take delivery", I'd like to see them store oil in their banks.
A message too all that say Sarahs not Running... She is has ben, is running her own campaign but some of you all know that now dont yous...
They should have opened the envelope, and there should have been two pink slips; one for Secy of Energy Chu(bicycle man) and one for Obama. Prices would drop by $1 in a minute.
THERE are ONLY TWO WAYS TO GET PRICE DOWN IN VERY FAST MODE
1. THERE ARE TOO MANY GALLONS OF CRUDE OIL IN THE MARKET-
LESS REALISTIC BECAUSE OF BUSH-CLINTON-BUSH-HUSSEINCARE ANTI-DRILLING POLICIES AND CRIMINAL OIL CARTELS AND SOCIALIST-COMMUNIST OIL REGIMES
2. BUYERS TO STOP BUYING THESE GALLONS OF CRUDE OIL AT ALL - MORE REALISTIC BUT HAVE TO SWITCH TO ALTERNATIVES OF OIL. ( ETHANOL, BIO GAS, NATURAL GAS, AND AS LAST ELECTRICITY)
I would like to state something regarding this thread.
Regardless of the opinions and well reasoned arguments, I love the dialogue here. All I got from Mediaite were IQ jokes. Never let kids drive the wheel.
“Obama order coordinates federal oversight of ‘fracking,’ gas development”
“President Obama signed an executive order Friday establishing a high-level task force charged with coordinating federal oversight of domestic natural-gas development.”
More like trying to stop it....they will claim it 'hurts the environment'...slap large fees and regulations on the natural gas production. This task force will also employ a bunch of extreme lefties and Islamists.
Gotta hand it to Obama - he's good at hitting multiple targets with one stone.
In one abuse of executive power, he attacks Newt, Sarah Palin, the domestic energy industry, the US economy and the American people.
I hope the ricochet will incur an even larger number of leftist casualties including Obama, maybe even Soros and Buffett.
...the only solution to this RIP OFF of us at the GAS PUMP is to get rid of the EPA , Barach Hussein Obama and his minions . Then let FREE MARKET CAPITALISM provide the solutions necessary to either LOWER or if need be INCREASE $$$$$$$ at the gas pump's."
P.S. ...America Elections Have Consequences."
These speculators do not have to put up a large amount of money to buy the oil contracts, a very small amount, these wall St banks are controlling the price of oil with little or no money involved. I think that they should put up the money when purchasing these contracts, maybe not the full amount but a lot more than what is required now. I'm pretty sure that the price per barrel would come down.
Governor Palin and Eric the show was very informative and should have been on 2 hours.
Was that Chris Matthews and Debbie Waserman Shultz in their Palin and Bolling Halloween costumes, on a mock Fox news set that was really in the MSNBC studios?
Great! Republicans are now in the business of growing government and regulating markets. Thank goodness! Instead of drilling and increasing domestic supply, we might have a "reach across the aisle" deal between repubics and Marxists to teach those "greedy" Wall Street corporations a lesson. Are we, in the future, going to hear " We are the 99%" by our side?
Oil speculators are not a catalyst for higher oil prices. They are a positive feedback. The catalyst is unstable and unpredictable oil supplies. Throughout most of the 80s and 90s, Saudi Arabia had excess oil capacity and thus essentially had the ability to prevent price spikes by expanding their supply. They no longer have this ability because growth in worldwide demand has outpaced increases in worldwide supply. If only there were a country with large amounts of untapped supply.
Somewhat but how do you explain the know resources of the US. We are now a new exporter of oil and the price is still way up there. Government interference in the production of energy is the biggest reason we're paying through the nose. In reality oil is just a little higher in terms of 35 years ago but inflation(hidden tax) has killed the consumer whose wages haven't been compensated in this relationship.
We best educate ourselves in all facets of our existence or get used to slavery. The elites are banking on the bulk of Americans that willfully compete in perpetual ignorance of their lives and the things that contribute to it.
Quantitative Easing and keeping interest rates near zero are destroying the value of the dollar.
The price of gold and oil have maintained about the same price ratio for years. Fifty years ago gold traded for thirty five dollar an ounce oil was two dollars a barrel. Once of gold fifty years ago would purchase seventeen and half barrels of oil. Today gold is worth about $1700 per ounce and oil trades for about a hundred dollars a barrel. Today one ounce of gold buys about seventeen barrels of oil.
Government intervention into the speculation market is about as good as having pet termites in your wood house.
Remember Goldman leased tankers in 2008 to store oil and keep it off the market when the price hit $38.00 BBL. Also remember that in early 2009 the "target" price for oil was to be $56 to $60 dollars per BBL.
This is just my opinion, the traders, and OPEC know we need X amount daily to function and as the dollar declines "they" want a return on there product, hence rising prices. Secondly, every time the USA has increased the deficit by a Trillions, where does that money come from other than the Chi-Coms and monitization from the Fed? the oil producing Nations. Basically higher oil prices are a hidden Tax imposed on the worlds economy to finance BHO out of control spending. But it get better, why does BHO luv to bash Wall Street and most of them are his biggest donors, why??? because the Trillions spent have to be converted into assets, Bonds, T Bills etc. and who converts this paper into marketable paper? Wall Street. I am not bashing Wall Street but for every Trillion Dollars in new debt for the USA Wall Street makes $20,000,0000,000.00 yes that is 20 billion. So since LIAR Obama has been in Office Wall Street has made $100,000,000,000.00 yes that is 100 Billion. So bash me BHO, I am laughing all the way to the bank.
Thanks for the great show Eric and Sarah, the numbers are stagering and Joe six pack does understand that he is at the limit of his personal wallet.
PS. don't forget the traders that make money by trading and converting dollars so oil can be purchased in the "world reserve currency".
I wish Eric had expanded this segment of the show! The rest I know, it's this particular segement I don't understand and I watched it four times! I don't mean to be thick and I know I am not stupid, but Wall Street trading Commodities and Big Banks are not a natural part of my life. I wish he could have expounded for us "Trading for Dummies" folks. That segment should have been the whole show, talking all around the issue! Please, try to explain this more fully and more vetted again!
Frankly I want gas prices to remain high, people blame the president for gas prices that is why his approval rating is diving, keep the price high until November, Please! I would rather be in the poor house for a few more months than face the near certain destruction of our way of life if he is re-elected
I also will be glad to shut my trucks down, stop spending money and drive this economy under the bus with 6 to 8 dollar a gallon gasoline just to see Obama on Marine One going to Andrews on his way back to Chicago in Jan, 2013.
Don't forget the Bamster is in bed with Goldman, who wants to bet gas prices start going down in say...October, after Dear Leader announces something insignificant
Raising margins is done all the time with other commodities Gold for instance, every time they raise the margin requirements Gold goes down, I don't see why it is OK to do it with Gold but not oil
This show should have been two hours so that they could have discussed their points in more detail. Since all Hannity did was rehash all the Hilary Rosen crap, his show could have easily been preempted to give Bolling and Palin more time with each of the experts on the show.
Hannity is a GOP talking points reader. The GOP would much rather talk about the Ann Romney kerfuffle than what *they* are going to do to get the oil flowing here.
I really like Hannity he is a true LIAR Obama vetter. However in the short time before Novemeber he needs to get into rapid fire about this failed and evil Administration. Expose, Vet and Destroy every person and Policy of LIAR Obama.
margin requirements (or not) does nothing to increase the physical supply of oil or gas
... drilling and refining does
yes you are right Yazz but the devil is in the details. before it hits the market, there are a series of trades and margins done at the macro level. In essence, the traders need to have some "skin in the game".
when it comes down to "oil 101" a leader who knows something about the biz (and is willing to learn the whole ugly process) scores points with me.