AMERICAblog: OPEC: high cost due to dollar and speculators
jr
· 1 year ago
close the enron loophole and force Bernanke to resign
tlsintx
· 1 year ago
have you noticed all the voices here in the states suddenly yelling...all in unison...it is NOT speculation....it doesn't take big oil/gas/coal too long to whip the flunkies back in line.
Andrew
· 1 year ago
OPEC: high cost due to dollar and speculators?....Opec is doing Paulson and Bernanke a favor with that statement. It should read OPEC: high cost due to dollar and demand. China isn't going to stop growing and niether is India. Between both countries they hold over a thrid of the worlds population and they want scarce energy resources. Bernanke and Paulson should be dumped as their constant mantra of a strong dollar policy is a joke as evidenced by the continuous rise in the price of real money, gold and silver. Gold is up $12 at 941.50 heading towards $1,200 for starters. As I've said before. It's basic economics. You can't keep printing worthless dollars and not suffer from the ravages of inflation and it's going to get much worse before we even see light at the end of the financial tunnel.
Õ¿Õ
· 1 year ago
What are you talking about? Demand for oil is 3% a year worldwide, yet the price is up over 300%. The reason is because Wall Street is trying to move its money from the housing bubble and speculate in this bubble. That, and the war in Iraq and probable war in Iran helping drive up more speculation.
Fuck off, wingnut.
Õ¿Õ
· 1 year ago
You voted for bush twice and you're over here lecturing us about it? Just like you idiots.
Hangtown Danile
· 1 year ago
You seem to know how everybody votes. What are you watching him in the voting booth?
OlderAndWiser
· 1 year ago
I believe OPEC before I believe Wall St. and this govt, actually. Notice how when the price of oil goes up to a new high every day the market loses, and before the end of the day, oil futures are back down a couple of bucks.
But the market could go under 11,000 this week...Wall St. doesn't like weeks in which a holiday occurs. They're gamblers, and we're the losers because of their speculation on everything. The dollar no longer has the clout in the world markets it used to. I know we live in the world, not just one country, but hell, this version of "globalization" in which entire industries are offshored from the US benefits only corporations, not the American people, nor the people whose labor corporations steal in other countries.
Indigo
· 1 year ago
I'm with O&W, I believe OPEC before I believe this government and its representatives. Who are these speculators? What are their names? Where do they live? Where do we find them in order to confront them?
Õ¿Õ
· 1 year ago
They're recorded when the time comes. Don't worry, we're going to get them. Just wait and see. You see enough men and women looking at their children, starving...
All of them.
Hangtown Danile
· 1 year ago
Hear is one! I love the oil prices. Run that price up to 500$! Run it up as high as you can! Also corn, rice, wheat and gold. Mostly Gold. Gold and More Gold. It is also a good time to buy Euro's if you are looking into currency speculation.
Andrew
· 1 year ago
The speculation argument is bogus. Why? Ask yourself why do people buy stocks? Because they are speculating that the value of the stock is going to rise. That's what the markets are all about. The markets are built on the premis of speculation otherwise there wouldn't be any markets and the oil market is no differnet than any other market. The speculation argument is foolish at best and OPEC is only attempting to jawbone the price of oil down just as Paulson is trying to jawbone the dollar up. Whenever the specualtion card is played by anyone in the press or a producer of a commodity like oil, they are trying to manipulate the market via spin. The reality is that there isn't enough oil for everyones needs and the speculation argument simply reinforces those who would rather not seek alternative forms of energy while blaming speculation for the high cost of oil.
Õ¿Õ
· 1 year ago
shut up
Õ¿Õ
· 1 year ago
There is no place on this planet they can hide, including you congress people and the media. You've brought this on. You start to see families starving, you better find a rock to hide under. Actually, I would quickly get out this very minute in any governmental service. That's how bad it's going to get. Hell, I'm backing away and I have nothing to do with it.
Õ¿Õ
· 1 year ago
FEMA = RUN MOTHER FUCKER, RUN!!
Õ¿Õ
· 1 year ago
Once again, I'm always right. The flood waters have reached us here in Louisiana. The Mighty Mississippi handled it. It's two miles wide here and deep. Rivers and bayous all along. It dealt with it. Roll on, roll on, Mighty Mississp...
Õ¿Õ
· 1 year ago
:::fart:::
Dianne_in_DC
· 1 year ago
I believe this argument. Bush's tax cuts have let the rich get richer, and they are a greedy bunch. What did you expect if you (s)elect an oil man, a failed one at that, to be president? I also think China and India are factors, but that didn't happen all of a sudden in February. That effect would be slow and continuous. The only way to get these spikes have to do with speculation and the continous fall of the dollar. Mom just got back from Greece and everything was nearly twice as expensive as two years ago.
Andrew
· 1 year ago
I wish it were possible to post actual charts here rather than just links as a picture is worth a thousand words. Dianne_in_DC, the price of oil has been rising long before this past February. In fact its been rising continuously since the war in Iraq began. what we have noticed since February is that now it it rising faster, The reason for this rapid rise is that the purchasing power of the dollar is falling. That's what happens when you have someone like Helicopter Ben Bernanke printing more and more of them to bail out brokerage firms like Bear Sterns and providing 150 billion in free money in the form of tax rebates. What your mom experienced on her trip to Greece is a direct result of too many dollars chasing fewer and fewer goods and they just don't want to admit that in D.C. Our country is like an alcoholic that requires a greater fix after a binge. So lets print up more money and just throw it out of helicopters as Bernanke is doing. At this rate, he'll need B-52 bombers rather than helicopters to take up the slack.
Dave of the Jungle
· 1 year ago
The rest of the world has little confidence in America. The currency markets reflect this fact.
Look no farther than the Whitehouse for an explanation as to why.
VietnamVet
· 1 year ago
To burst the Oil Bubble; three steps have to be taken:
1) End the Middle East neo-colonial wars to wipe out the war risk premium
2) Balance the Federal Budget to stop the dollar decline
3) Enact a National Transportation Plan and 10 year Program for Energy Independence to lower oil demand
Three steps the Republicans are incapable of doing.
Õ¿Õ
· 1 year ago
None of them will do it. They're all suspect.
Hangtown Danile
· 1 year ago
I don't see the Dimacrats doing anything about it either.
To the people of Iran, if any read this: I've always written in my deep admiration of you. I don't blame you one bit for anything you do. I will never condemn you and your wonderful people. I'm deeply sorry for this country. I can't do anything to change things.
Õ¿Õ
· 1 year ago
Obama could have waited at least a day before addressing AIPAC.
Õ¿Õ
· 1 year ago
How about a nuclear free Middle East and end the apartied in Israel?
Nylund
· 1 year ago
Regarding the dollar, its been way too high for way too long. American's don't actually do enough work to justify all the iPods, HD TV's, cars, movies, granite counter tops, chrome rims, GPS systems, iPhones, etc. that we get. All thats happening is that we are getting our due comeuppance and going back down to where we should have been all along, and its gonna be lower than we're at now.
Yeah, it sucks that our con on the world is coming to an end, and some people will have it really really rough as America readjusts to reality. We were the spoiled children of the Earth, the trust-fund kids, and now we are finally going to see whats needed to survive in the real world, and, part of that is fixing the huge messes we've made in things like our healthcare and education systems. But don't advocate for a return of our undeserved excesses. Its unsustainable and bad for everyone in the long run.
nobody987
· 1 year ago
<sigh>
(1) There were lines in the '70s because, and only because, there were price controls in the '70s. In the absence of price controls, every gas station can change their prices as often as they want. Any gas station that sees a line down the street knows it's not charging enough and raises prices until the lines go away. That's how the market works.
(2) If there were lines, because there were price controls, that wouldn't prove there was a physical shortage of gas. Maybe it would just prove there weren't enough gas stations. The only way the words "physical shortage" make sense is if all the stations run out of gas at the same time and gas is not available at any price.
All Comments
Bernanke and Paulson should be dumped as their constant mantra of a strong dollar policy is a joke as evidenced by the continuous rise in the price of real money, gold and silver. Gold is up $12 at 941.50 heading towards $1,200 for starters. As I've said before. It's basic economics. You can't keep printing worthless dollars and not suffer from the ravages of inflation and it's going to get much worse before we even see light at the end of the financial tunnel.
Fuck off, wingnut.
What are you watching him in the voting booth?
But the market could go under 11,000 this week...Wall St. doesn't like weeks in which a holiday occurs. They're gamblers, and we're the losers because of their speculation on everything. The dollar no longer has the clout in the world markets it used to. I know we live in the world, not just one country, but hell, this version of "globalization" in which entire industries are offshored from the US benefits only corporations, not the American people, nor the people whose labor corporations steal in other countries.
All of them.
I love the oil prices.
Run that price up to 500$!
Run it up as high as you can!
Also corn, rice, wheat and gold.
Mostly Gold. Gold and More Gold.
It is also a good time to buy Euro's if you are looking into currency speculation.
Whenever the specualtion card is played by anyone in the press or a producer of a commodity like oil, they are trying to manipulate the market via spin. The reality is that there isn't enough oil for everyones needs and the speculation argument simply reinforces those who would rather not seek alternative forms of energy while blaming speculation for the high cost of oil.
What your mom experienced on her trip to Greece is a direct result of too many dollars chasing fewer and fewer goods and they just don't want to admit that in D.C. Our country is like an alcoholic that requires a greater fix after a binge. So lets print up more money and just throw it out of helicopters as Bernanke is doing. At this rate, he'll need B-52 bombers rather than helicopters to take up the slack.
Look no farther than the Whitehouse for an explanation as to why.
1) End the Middle East neo-colonial wars to wipe out the war risk premium
2) Balance the Federal Budget to stop the dollar decline
3) Enact a National Transportation Plan and 10 year Program for Energy Independence to lower oil demand
Three steps the Republicans are incapable of doing.
Yeah, it sucks that our con on the world is coming to an end, and some people will have it really really rough as America readjusts to reality. We were the spoiled children of the Earth, the trust-fund kids, and now we are finally going to see whats needed to survive in the real world, and, part of that is fixing the huge messes we've made in things like our healthcare and education systems. But don't advocate for a return of our undeserved excesses. Its unsustainable and bad for everyone in the long run.
(1) There were lines in the '70s because, and only because, there were price controls in the '70s. In the absence of price controls, every gas station can change their prices as often as they want. Any gas station that sees a line down the street knows it's not charging enough and raises prices until the lines go away. That's how the market works.
(2) If there were lines, because there were price controls, that wouldn't prove there was a physical shortage of gas. Maybe it would just prove there weren't enough gas stations. The only way the words "physical shortage" make sense is if all the stations run out of gas at the same time and gas is not available at any price.