A oil war is about to happen

[kidrock]

Now that is one pathetic sad statement. lol You would rather have the nation go totalitarion just to get rid of me? Guess what, computers work in Australia too!! HA!!

YES lol, no just kidding. Yeah My wife I thought Australia would be a nice place to live.

[Bubstr]

Wow ! You must have drank ALL of the Kool-Aid !

Is that all you have to say about this? You believe in Kool-Aid, I believe in results equal reality. I sometimes question conservatives, I'm more conservative than most conservatives today. I think we should have conserved the monopoly laws, wall st. regulations, unions, trade laws and minimum wages so we wasn't loosing our middle class today. Yes, these things delivered a middle class and with their demise, the middle class is going away. Enjoy your Kool-Aid.

[LITE-INN]

I believe in results also under bush thru his eight years price of fuel and other commonities where a he11 a lot cheaper than when obama has been in office

[RACEMAN]

"We have access to more oil then the middle east right here in our own country. All we have to do is get the politicians out of the way." Mudslinger47

And at what cost to our economy, our country, our environment, OUR CHILDREN, GRANDCHILDREN, GREAT-GRANDCHILDREN AND SO ON.

Obviously you have no concern for anything or anyone except yourself.

[Bubstr]

I believe in results also under bush thru his eight years price of fuel and other commonities where a he11 a lot cheaper than when obama has been in office

Really, cost of food, insurance and almost every thing else has gone up too. Look to inflation caused by QE programs for the answer for most of it. Since when does the president set gasoline prices? Bush doesn't get credit for his so called good prices, which at the time, we thought was extremely high and Obama doesn't get credit for the high prices. If you wish to give credit, give it to Congress for weakening monopoly laws and Stock and Commodity trading laws. Most of that was bi-partizan but Obama has not enforces the laws on the books yet, to the full extent. This isn't Right vs Left. This is about who buys government and who hasn't.

[LITE-INN]

but bush certainly got the blame didn't he you gotta wonder why the prices were fine until in the end of 07 then shot through the roof in 08

[LITE-INN]

"We have access to more oil then the middle east right here in our own country. All we have to do is get the politicians out of the way." Mudslinger47 And at what cost to our economy, our country, our environment, OUR CHILDREN, GRANDCHILDREN, GREAT-GRANDCHILDREN AND SO ON. Obviously you have no concern for anything or anyone except yourself.

well by all means don't race either it hurt the envoirment

[LITE-INN]

guess who got this contract http://www.mccaskill.senate.gov/?p=press_release&id=491 http://www.oil-price.net/en/articles...story-over.php

[Clayton_Wetter]

"We have access to more oil then the middle east right here in our own country. All we have to do is get the politicians out of the way." Mudslinger47

And at what cost to our economy, our country, our environment, OUR CHILDREN, GRANDCHILDREN, GREAT-GRANDCHILDREN AND SO ON.

Obviously you have no concern for anything or anyone except yourself.

Drilling all of our own oil would create many jobs and improve the economy. And does Arabian Oil burn cleaner than our own would???? This nation has advanced greatly in cleaning the air and water over what was going on in the early and mid ninties.

Oil is a God given resource. Do you drive a wind powered car?

[Bubstr]

Drilling all of our own oil would create many jobs and improve the economy. And does Arabian Oil burn cleaner than our own would???? This nation has advaned greatly in cleaning the air and water over what was ging on in the early and mid ninties.

Oil is a God given resource. Do you drive a wind powered car?

This statement makes dome sense, but with our government it has a lot of obstacles to work that way. I have a little insider knowledge about this, as I have a acquaintance that believes he has oil under his property. He first started his quest to be a oil tycoon in the 80s. He found out that most land owners don't own the mineral rights to their own property. These where taken by government and sold to oil companies as a crony capitalism deal in the mid 1800s. The land owner gets nothing unless the well or mine is dug. Then they get a pittance for restoring their property, which in most cases didn't happen. Look at all the abandoned strip mines.

He tracked hid mineral rights to a defunct coal company that left a holding company that has tons of mineral rights in case they are worth something. He does a 4 year court case and gets an arbitrated price on the mineral rights. Then files for a drilling permit. Granted and paid for but stop and deceit order filed by some green group. Tied up in court until drilling permit expires. He says every drilling permit is disputed this way. He has spent so much on this, he can't afford any more, so he strikes a deal with a big oil company, thinking some of an oil well is better than none of an oil well. Twenty years later, he has nothing, is now a old man and if he dies, his kids get nothing, not even the mineral rights that go to the big oil co. because of partnership deal.

On public land it's worse. You need several high cost limited time permits. Every one is protested and tied up in court. The big oil companies just keep getting the permits and tie up the prime areas of production and you get to pay for it when you buy gas.

You would think, this is bad for oil companies, but not so. They have no incentive to over produce, because there are so few of them, they can fix prices at a higher price. Supply and demand.

These big oil suppliers and commodity traders in conjunction with government crony capitalism are cleaning our clock at the gas pumps and we can do nothing about it. They will increase supply, but just to meet the new demand from new Asian markets, never so much that they can't fix prices.

[t.nie]

We don't have an importing oil problem in this nation, we have a speculator driven market for oil futures that drives the cost through the roof and gouges us at the pump.

Simple solution is get the speculators and commodity traders out of the oil market by mandating that anyone purchasing oil on the market has to have a demonstrable storage facility for the actual oil to take possession.

[Bubstr]

We don't have an importing oil problem in this nation, we have a speculator driven market for oil futures that drives the cost through the roof and gouges us at the pump.

Simple solution is get the speculators and commodity traders out of the oil market by mandating that anyone purchasing oil on the market has to have a demonstrable storage facility for the actual oil to take possession.

But the big speculators do have storage, and they play a game of three card monty with three different commodity markets. Buy here, sell there buy there sell here. They can pump up prices or deflate them. What the average guy does not realize is you can make money if the commodity goes up or down and if you hold just 10% of the market, it can drive the market when it's traded between three of them and has the effect of 30%. Who ever holds the paper at the delivery date owns the oil. If the little guy gets stuck with oil worth less than he bought it for, he has to sell and make up the loss by paying the extra beyond his margin. The big guy just bought cheap oil that he will sell for more the next month.

Do you remember the 08 oil price jump? During Congressional hearings, it was found that Goldman Sachs held over 10% of the commodity shares and Exion held over 5%. This clearly violates SEC rules for Commodity trading and that was just the Chicago Exchange. Nothing was done. If you are trading in commodities, you must know, it's much like sitting down to Poker with big stack players. They will out bet you on the pots you can win and steal the ones you can't. "Oh, It's a volume business", as Nathan Johnson would say. (Steve Martin)

All said, I believe the problem is a bit less now. The threat of stricter regulation scared the Bejeasus out of a lot of them.

[balljoint]

Lets not forget they have made gas so it has no shelflife.

Only reason gas doesnt cost more is because that would cause more drillng. The deep stuff gets expensive and only worthwhile to the little guys when oil price is 110+/brl

Big oil is making sure montana is tied up


Kudos