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Gas could fall to $2 if Congress acts, analysts say »

Posted by: Aidenag 2 months, 1 week ago

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The price of retail gasoline could fall by half, to around $2 a gallon, within 30 days of passage of a law to limit speculation in energy-futures markets, four energy analysts told Congress on Monday.

Read Full Story at marketwatch.com

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    Spadecaller2 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.

    Reply

    43 Replies

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      libsRfunny2 months 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.

      Reply

      14 Replies

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      DropkickaLib2 months 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.

      Reply

      17 Replies

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      donald512 months 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!

      Reply

      4 Replies

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      injest2 months 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"?

      Reply

      1 Reply

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      mark-stevens2 months 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!!

      Reply

      2 Replies

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    Spadecaller2 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.

    Reply
    • 0%
      Spadecaller2 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.

      Reply

      64 Replies

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        engineer2 months 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

        Reply

        63 Replies