Discussion in 'Peak Oil' started by tsneds, Mar 29, 2011.
Interesting article breaking down the underlying causes of soaring prices:
Don't worry, if it crashes we will bail it out with worthless fiat currency like all the rest of the debacles.
There is a bunch of truth there, no question. Peak oil is real, no question about that either, but p.o. does not even come CLOSE to explaining the meteoric rise in consumer prices for petrochem products. Market speculation does that. I would hope that more regulation is not warranted since that will put it's own influential stamp on the price at market, and one that might be more trouble than it's worth if/when things stabilize. (For an example of how thing become FUBAR under regulation, have a peek at fanniemae and freddymac.)
you can't have your cake and eat it too with a free market or a market restricted to those with a vested interest. It's an either/or situation.
Keep the .gov out. We have enough regulation without additional input. If we built 30 more refineries, the price of gas would drop.
Barrack will save us all! As soon as he gets this boarder-less world thing all wrapped up he will work on gas prices next....I just know it.
Just require the speculators to take posession of their oil in EPA approved storage containers prior to selling it... that should bring down the price of oil...
The oil giants have us, the country, and the gub by the "family jewels". Until we get fed up with being robbed we will not do anything about it. The entitlement crowd doesn't worry because we feed, house, medicate, and educate them so the only thing they have to do with their dope money is to buy gasoline. A lot will only pass it on to those who consume their goods/services and we will bear the brunt of it.
We went through this speculator caused artificial rise in crude oil price and gasoline prices, what, a year ago? Year and a half ago? Gas got up to almost $4-5/gallon. The speculators were bidding prices to totally ridiculous levels. What happened? Joe Sixpack found out thru decent reporting, started raising a stink and prices fell. Not back to where they were or where they should be, but they did fall. Seems like they NEVER go back all the way down.
So where's the rabble-rousing Joe Sixpack today? Seems to me between Japan, Libya, Egypt, being unemployed for 101 weeks, inflation eating away at any and all extra cash, house upside down and still falling in value, Joe must not be driving much. Or maybe he just ain't got the energy left (pun intended) to start screaming like last time.
We should BAN all oil speculation. Let the market set the value.
Myself, I'd gladly pull the lever on oil speculators - hang the barstages high!!
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