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  Spadecaller5 months, 1 week ago

  FTA:

  "Record oil prices are inflated by speculation and not justified by market fundamentals," according to Gheit. "Based on supply and demand fundamentals, crude-oil prices should not be above $60 per barrel."

  I couldn't agree more. The top 1% of the wealthiest people in America own nearly 98 % of all the stock in energy companies. Among those are also people like Bush and Cheney who earn money directly from the increased revenues from currently inflated prices. Having speculators drive the cost beyond its justified market values is the result of insiders and greed. It's about time that Americans wake up and put an end to this grand rip-off.

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    libsRfunny5 months, 1 week ago

    If you are going to attack Bush and Cheney, don't forget to lump in liberal darling Al Gore, who's made millions off Occidental Petroleum and brokered a sweetheart deal for same company to drill on federal land while he was VP.

    You also might want to consider the millions of middle class Americans who have portions of their 401Ks invested in energy companies.

    I seriously doubt your "top 1 percent" claim is true.

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      mdual5 months, 1 week ago

      Exploring our own resources and I'm including green ones (wind and solar) as well as drilling for our own oil will bring down prices.

      Brazil had better insight and woke up after the opec embargo of the seventies, it's unbelievable we didn't.

      Iceland turned it's economy around in 10 years and now produces all of it's own energy. France, Norway etc..etc.. they all drill for their own oil and have green and nuclear sources as well. They're also not beholding to the Saudi's and I'd love to see that here.

      No way you can tell me it won't work here (unless of course whatever idiot occupies the White House this time around screws it up).

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        tchef5 months, 1 week ago

        Most of the opposition to the drilling is coming from the people who live in the states most effected by the drilling. Californians and Floridians both have fought vigorously to keep drilling from happening. The rest of the country favors increased drilling and that from both Republicans and Democrats.

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          saneman5 months, 1 week ago

          Reagan also put oil on the futures market on March 30, 1983.

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          flyonthewallzz5 months, 1 week ago

          I hope y'all will forgive me if I flutter my moonbat wings a bit.

          I think it is fair to say that Nichola Tesla had a great deal to do with the present existence of both General Electric and Westinghouse. Granted Edison's GE was clobbered by the Niagara falls power plant. And it is hard to imagine how I could make living without the AC motor. But what about Wardenclyffe?

          "Tesla wanted to saturate the globe with electricity as a dynamo so that everyone on the surface of the globe could obtain electrical light just by sticking wires into the soil and a electrical bulb would light. When J.P. Morgan heard about the Tesla project, he was asked: "How can we get money from the electricity which Tesla is supplying to every part of the world?" After that Morgan cut the funds and the Tower was never finished."

          http://www.teslasociety.com/teslatower.htm

          http://ublib.buffalo.edu/libraries/projects/cas...

          http://www.pbs.org/tesla/ll/ll_niagara.html

          1901-1917..

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            flyonthewallzz5 months, 1 week ago

            A quick historical jump to 1952 and the Paley commission:

            Please forgive the pasties:

            "In the energy sector, the prime area of concern that the Paley Commission addressed was petroleum. The 1952 report predicted oil shortages by the 1970s. Furthermore, the Paley Commission made a strong negative assessment of nuclear energy and called for "aggressive research in the whole field of solar energy - an effort in which the United States could make an immense contribution to the welfare of the world." The Commission also encouraged work on wind energy and biomass. However, despite the Commission's conclusions, a significant renewable energy effort was not made until the oil crisis was upon the US in the 1970s."

            http://www.ieer.org/sdafiles/vol_8/8-3/npower.html

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              flyonthewallzz5 months, 1 week ago

              In 1952 -- fifty years ago -- the Paley Commission reported to President Truman that, "Efforts made to date to harness solar energy economically are infinitesimal. It's time for aggressive research in the whole field of solar energy -- an effort in which the U.S. could make an immense contribution to the welfare of the whole world." The report concluded that solar could play a greater role in energy production than could nuclear power, and that an aggressive effort could heat 13 million homes and offices by 1975.

              http://www.ratical.org/corporations/shortonDRE....

              tax credits FY2004, alternative vehicles = $90 milliion

              Fossil fuels = $4.6 billion

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        Lurch5 months, 1 week ago

        > Brazil had better insight and woke up after the opec embargo of the seventies, it's unbelievable we didn't.

        We did wake up. Jimmy Carter created the American alternative energy program in the 70's, but that genius (tic) Cut & Ronnie Reagan cut the program.

        I think he spent about 4,000% more on a program called Star Wars. Thank God for Star Wars too, eh, we haven't been attacked by nuclear weapons since.

        Gee, aren't you glad we elected almost all cons instead of liberals since 1980?

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      mivan45 months, 1 week ago

      his claim has already been refuted as of late, I don't know where the post is, but It is stated that Exxon is owned by basically the ave American, less than 10% is by the Elite!

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        MRCOFFEECAKE5 months, 1 week ago

        Yeah, and their "average" top 300 executives make over $8.25million/year. Their President made 345 million last year.

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          mivan45 months, 1 week ago

          That is true, but they really don't own Exxon and if 401k owners took the time to vote their shares they could FIRE them!

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      MRCOFFEECAKE5 months, 1 week ago

      Of course you doubt it..

      But when can you be serious?

      Try facts and we'll take YOU seriously.

      Until then, thanks for adding no facts (as usual)

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        mrbs5 months, 1 week ago

        i have 3 oil companies in my portfolio...the funds they are attached to are the only ones that made anything worthwile

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          MRCOFFEECAKE5 months, 1 week ago

          Gee that's too bad. I invested in the Darfur government bonds, they pay much better dividends.

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    DropkickaLib5 months, 1 week ago

    Are people forgetting that the oil market is an international market and bills passed by Congress will only impact speculation in this country? Anything traded on foreign exchanes lies outside of Congress' control.

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      jimdoze5 months, 1 week ago

      Bingo!

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      mivan45 months, 1 week ago

      What would happen if we put our speculators under regulation that the rest of the world isn't? Would we end up with the equivalent of China drilling off the coast of Florida but we won't because of Congressional regulations, in the Speculation market also ?

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        Tangent0015 months, 1 week ago

        As I understand it, speculation happens within a particular exchange, like, say, the New York Stock exchange, and ALL players are bound by the rules of that exchange. If there is a Japanese speculator wishing to be active in the US market, he has to play by the same rules. Conversely, if an American wanted to speculate in the Tokyo Stock Market, he would be bound by the rules of the Tokyo market, not the New York Stock Market.

        BTW, China is NOT drilling off the coast of Florida. They could, but it would be in Cuban waters, not U.S. waters.

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          mrbs5 months, 1 week ago

          but our oil companies cant drill within 100mi.

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          jimdoze5 months, 1 week ago

          The only way oil is traded on the NYSE is by trading the stocks of the many oil, gas, drilling, transport and oil well services companies.

          Oil is traded as actuals everywhere in the world... and, as futures, and options on futures, on numerous futures exchanges in and outside of the U.S. The U.S. government will not be able to control and fully oversee those markets. In fact, it is pretty presumptuous to even think that we can.

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          mivan45 months, 1 week ago

          Yes, its in cuban territory but only 50 miles from the Florida Keys! So its still off the coast of Florida and yes they have already started! 157 Democrats along with 59 Republicans voted to NOT drill in the same substrate all the while knowing that Cuba and China had a deal! After ANWAR and Now this I DON"T WANT TO HERE ANY BI**HING ABOUT OIL PRICES(and associated problems aka depressed economy) FROM ANY DEMOCRAT!

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        donald515 months, 1 week ago

        So Mivan...continue to rape most of Ameerica for speculator profits - how UN-American and corrupt of you! Its these American speculators who have raised the price internationally just through the US markets! What innane comments that only care for profit, profit and more profit... how fine a repug you are! I'll bet you don't give a damn for american soldiers dying in Iraq for nothing too?

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          tanglang5 months, 1 week ago

          Donald, do you have a 401K or a pension plan?

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            Lurch5 months, 1 week ago

            I do, and I would like to have some $ to put into it thank you very much.

            The problem with you cons is that you think the multinationals and the corrupt elite know how to spend our money better than we do. I got news for you, they are the ones who brought you Exxon Valdez, the S&L Crisis, the Subprime Scandal, the Bush War, the debt, falling dollar, and more.

            Somehow, I think I want to keep my own money and spend it only on products I want at a price that is reasonable.

            Speculation is market manipulation. In our market, we have laws against the price collusion of the sort that OPEC is running. People, including foreigners, have gone to jail for price colluding.

            You want to trade in our market/country, you do business by our laws, NOT the other way around.

            Be pro-American - it doesn't hurt!

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              tanglang5 months, 1 week ago

              "The problem with you cons is that you think the multinationals and the corrupt elite know how to spend our money better than we do"

              No, I don't. And I damn sure don't think the feds can do it better either.

              "Be pro-American - it doesn't hurt!"

              Coming from the man who supports the congress who wants to socialize medicine, nationalize oil and screw hard working Americans by bailing out douchebags who bought houses they could not afford out of greed.

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                MRCOFFEECAKE5 months, 1 week ago

                You must mean "make sure that no child or financially challenged humans have to suffer painfully from a curable illness" make sure that hard working Americans and seniors don't have to decide between food and medicine or heat,

                in "THE GREATEST NATION IN THE WORLD"..

                If it were up to "your ilk" that Communist Medicare program would never have been permitted.

                You must mean THOSE horrible people..Because Bush is behind the Bear Stearns bailout and THEY were the ones who backed the sub-prime debacle and couldn't recover after running out of other nations to pawn it off on.

                Try reading a newspaper.

                Try watching c-span for a few minutes. If you're gonna keep representing the bad guys at least you could have your facts straight. THEN you can scramble them!

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          mivan45 months, 1 week ago

          I am not for excessive speculator profits to the peril of the ave working American (Of which I am one), but ONLY raised the question of SIDE effects of regulation and there ALWAYS is unintended side effects. Sometimes the side effects can be worse than the problem. NOTE want to drive down prices DRILL MORE! Because Speculation always eventually follows supply and demand. If speculators overdrive a commodity it will eventually crash to the peril of those who drove it. Remember the Hunt Brothers and their attempt at cornering the Silver market ? They lost BIG time after the spike came the collapse to lower than the start point.

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        axisdeer5 months, 1 week ago

        You are an ignorant neo-con who gets all their news from the likes of Sean Hannity. Cheney was forced to refute the "Chinese drilling off the coast of Florida" urban rumor that he started when Mel Martinez (R-Fla) pointed out that there is NO such drilling in Cuban or Florida waters. Keep up with the Congressional hearings: there is evidence that speculation is playing a large part in upward price pressure.

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          bigG5 months, 1 week ago

          The fact that the dollar has kept sinking against other currencies is a large factor as well - oil is priced in dollars - at least for now.

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          mivan45 months, 1 week ago

          Link to cnn OUCH!

          I have other links but most liberals think CNN tells no lies. Actually Fox is more reputable. I have other links on this subject also that are more in depth, but you would question their authenticity.

          http://money.cnn.com/2006/05/09/news/economy/oi...

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          mivan45 months, 1 week ago

          Link to cnn OUCH!

          http://money.cnn.com/2006/05/09/news/economy/oi...

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          mivan45 months, 1 week ago

          double post

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    donald515 months, 1 week ago

    Spade, right on! Dumya is laughing all the way to the bank for himself and his big oil buddies! Such is life in a repug world that threw out all federal regulation (the former repug "Do nothing" congress, that is) and anti-monopoly laws, then Dumya's signing statements said to let business do whatever it wants... devil be damned to the American people.

    Only LibsR could be so evil as to let the rest of America be scamed and raped by the Bushies!

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      lfergie8125 months, 1 week ago

      "Only LibsR could be so evil as to let the rest of America be scamed and raped by the Bushies!"

      I have to respectfully disagree. There are other evil neo-cons on here that spews out fictitious stories that they hears on FAUX news. LMAO

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      kedirian5 months, 1 week ago

      And WHO have the inside lines to those who speculate on US markets? Right, Dubya and good Ole Cheney, who BTW had that "secret" meeting with oil-execs early in this misbegotten administration. So, what we need is a national and Congressional push to have the attendance list and the agenda of those meetings published - or, at least, released to a Grand Jury! Wanna bet there somewheres we can find the reason for this out of control oil-market?

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        bigG5 months, 1 week ago

        I wouldn't mind hearing what was discussed in that meeting as well - ya think one question might have been "where are the largest amount of untapped, easy to produce oil reserves in the world right now?" ( uuuh Iraq?)

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          donald515 months, 1 week ago

          ...and we need some catastrophic event to declare war and move in there now! Who gives a darn if US soldiers die in the process, and so what if a million Iraqis have to die too!

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    injest5 months, 1 week ago

    "The top 1% of the wealthiest people in America own nearly 98 % of all the stock in energy companies"

    wow really?

    Part of My 401K is in energy and I'm not in the top 1%.

    BTW you do know that 97.682% of all statistics are "made up"?

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      Lurch5 months, 1 week ago

      Middle class and working poor pay the majority of the pain for the speculation. You own about 1% of 1% of 1% of 1% of 1% of 1% of 1% of 1% of 1% of all energy stocks out there, so your greedy little mind tells you Americans don't have a right to stop the thieves from stealing from us.

      Pathetic really.

      What flavor is the kool-aid today?

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    mark-stevens5 months, 1 week ago

    In five years all of Japan's cars will run on water (hydrogen. This will give Japan will a better economy than the U.S. who will still be paying for the Iraq war, and cheap $3.00 a gallon gas, and back to driving SUV's. We are such a smart country!!

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      tanglang5 months, 1 week ago

      I'll take that bet.

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      jimdoze5 months, 1 week ago

      "In five years all of Japan's cars will run on water (hydrogen."

      Hydrogen IS and elemental part of water... and water IS a byproduct of fuel cell power plants. However, the cheapest way to get hydrogen for fuel cell power is from fracturing natural gas... and it is still at least 3 times as expensive as gasoline. Electrolyzing hydrogen from water requires more energy than can then be obtained from the hydrogen. Japan won't be running cars on water any time in this century.

      As for the comment, "We are such a smart country!!" ... ah well!

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  Spadecaller5 months, 1 week ago

  FTA:

  "Record oil prices are inflated by speculation and not justified by market fundamentals," according to Gheit. "Based on supply and demand fundamentals, crude-oil prices should not be above $60 per barrel."

  I couldn't agree more. The top 1% of the wealthiest people in America own nearly 98 % of all the stock in energy companies. Among those are also people like Bush and Cheney who earn money directly from the increased revenues from currently inflated prices. Having speculators drive the cost beyond its justified market values is the result of insiders and greed. It's about time that Americans wake up and put an end to this grand rip-off.

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  Spadecaller5 months, 1 week ago

  FTA:

  "Record oil prices are inflated by speculation and not justified by market fundamentals," according to Gheit. "Based on supply and demand fundamentals, crude-oil prices should not be above $60 per barrel."

  I couldn't agree more. The top 1% of the wealthiest people in America own nearly 98 % of all the stock in energy companies. Among those are also people like Bush and Cheney who earn money directly from the increased revenues from currently inflated prices. Having speculators drive the cost beyond its justified market values is the result of insiders and greed. It's about time that Americans wake up and put an end to this grand rip-off.

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    engineer5 months, 1 week ago

    THe solution is to require the Oil companies not to export any oil (like from Alaska) until the price of oil comes way down. It'll be in the name of NATIONAL SECURITY

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      UnusualSuspect5 months, 1 week ago

      I'll believe it when I see it...both things...Congress acting quickly, and gas prices falling below $2 a gallon...

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        injest5 months, 1 week ago

        "both things...Congress acting quickly"

        Just as soon as they master walking and chewing gum at the same time

        and

        In unison

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      antibrainwasher5 months, 1 week ago

      or, in the name of national security and the economy and global warming, we nationalize our oil, kick out the profiteers, and form a national energy policy that is sustainable and won't kill off our children.

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        jordan115 months, 1 week ago

        Works for me.

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          amazed5 months, 1 week ago

          If you want to live in Europe so badly, why not just move there and let those of us who like American capitalism be?

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            jordan115 months, 1 week ago

            Nope, I'm not turning the country my forefathers fought to give me over to you clowns. We'll just have to work this out, whether you like it or not.

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              jimdoze5 months, 1 week ago

              First and foremost, I'm not going to let anyone turn it over to government.

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                donald515 months, 1 week ago

                you voted for Dumya, so you let the government screw it up - Dumya hasn't let you down, he's failed at everything!

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                  mrbs5 months, 1 week ago

                  do you have a 401k..if you do your a speculator

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            MRCOFFEECAKE5 months, 1 week ago

            Spoken like a good Nazi..I mean Roman/ I mean slave owner//

            I mean American!

            You forgot to say "let them eat cake", Marie!!

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            donald515 months, 1 week ago

            American capitalism with torture, preemptive war, violations fo the Constitution, violations of the Geneva Conventions, GITMO... you sure get a lot of un-american activities along with that capitalism in a Repug world. No scruples and no conscience other than making money, how really Un-American!

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              tanglang5 months, 1 week ago

              Taking their 401k and pension plan money from them by allowing congress to pas this bs bill will hurt them even more.

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                lfergie8125 months, 1 week ago

                tanglang

                Where were you when the Enron employees took a beating and the same thing happened to the 401k of the people that had automotive stock? Let them sell off their energy options.

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        DropkickaLib5 months, 1 week ago

        Nationalization is a great way to stop profitability. Then the oil industry would be as well managed as Social Security and would run a deficit within a few years.

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          truthiness5 months, 1 week ago

          since we are already subsidizing the oil industry with tax dollars and have oil men starting wars to increase oil holdings... how is it not a de facto nationalized industry

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            bigG5 months, 1 week ago

            I think you have it backasswards - the government doesn't own the oil as in "nationalization", oil companies (and other corporations)own the government.

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              miklkit5 months, 1 week ago

              There is definitely collusion there between the republicon government and corporate America.

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                DropkickaLib5 months, 1 week ago

                ...and Obama and the ethanol industry.

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            injest5 months, 1 week ago

            "how is it not a de facto nationalized industry"

            What it is, if you step back and take an HONEST look at it, Oil is a National Cash Cow!

            And depending on where you live, State and Local Cash Cow as well.

            Bout a year or so ago, California getting the DT shakes cause they feared To MANY people would buy hybrids, tried to pass a reg so that taxes would be based on MILES traveled, to make up expected short falls from gas taxes.

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              truthiness5 months, 1 week ago

              valid.

              as is the perspective of bigG and mikkit

              I'm not sure which view is accurate in the detail, but I think we all see a common point of the oil industry and govt being codependent to the detriment of the citizens.

              it should be fairly obvious that even if we elected a president with integrity, no serious law would get passed to create an honest relationship between big oil and the government.

              just one more reason we need a diversified energy portfolio. rather than putting all our eggs in one basket. one dirty, limited, corrupt basket.

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          MRCOFFEECAKE5 months, 1 week ago

          You mean as well as George Bush's new medicare program?

          Hey, scare tactics have never prevented leaders from trying to lead. We're all glad that you think things are just fine, but YOU don't have a clue.

          Step outside and ask some real people.

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          Tangent0015 months, 1 week ago

          Stopping profitability is the POINT of nationalization. Nobody makes a profit off running Social Security. Nobody makes a profit off running the IRS. I'm not sure about the TSA. It used to be nobody made a profit off of running prisons, or fire departments, or public schools, but not anymore.

          An industry is a candidate for nationalization when the importance to the nation outweighs the importance of individual or corporate profit. The US did it with AmTrak some years back with limited success. We did it again with airport security by forming the TSA.

          Other countries have nationalized their oil with great success, including Mexico and Venezuela.

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              mrbs5 months, 1 week ago

              you do if you have a 401k

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            DropkickaLib5 months, 1 week ago

            duplicate post

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            DropkickaLib5 months, 1 week ago

            I don't even know how to respond to someone who feels threatened by the concept of capitalism. FYI, the only reason that the government took over AmTrak was that passenger service was so unprofitable that no private railroad company wanted to continue offering it. Venezuala and Mexico are economic basket cases in spite of record oil prices. You'd better find better examples.

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          donald515 months, 1 week ago

          Drop, we can always rely on a repug to bring up something no sane american would a