Bid To Curb Oil Speculation Survives Senate Vote

About time we started to go after those speculators.

dam right those dirty speculators have driven down the oil prices this last week. this is not acceptable. there should be a law.

Dajokerman wrote:

About time we started to go after those speculators.

Ain't never been no law nasty folks don't circumvent to make money at honest folks expense.

Lance Winslow wrote:

<quoted text>Ain't never been no law nasty folks don't circumvent to make money at honest folks expense.

Well in the "housing bill / fannie freddie bailout" 600 pages later the credit card companies are required to disclose all transactions to the IRS. I wonder what little marvel awaits us on this so called naked speculator scheme, which is now and always has been illegal. Its just we are actually going to enforce this one, with a little more authority.

And will we investigate where the easy credit came from that supports this naked speculation game ? And those who profit from the speculators losses, the hedgers, are they getting investigated ?

Using fear to take unnecessary authority. The federal oversight failed and the federal government now wants more authority....does this make sense ?

Raise the rates on money and this stuff will cut way back.

Without speculators the hedgers would run wild, and then we going to regulate them....and next is the consumer....where does it end ?

Stop printing money and fueling the fire.
All this is funded by east credit, which is causing the inflation/jobloss.

reid should back up. put it in reverse and re-think our energy policy. keep it simple. don't complicate it because our energy policy is failing our citizens. look at california! hot air and no vision.

Two sepatate 'futures' or hedge markets make up about 50% of the rise in oil prices.

Complete elimination of these phony markets (with a 100% profits tax, or some other regulatoy solution) would cut the price of gasoline by $2.00 or more.

They did not exist 8 years ago. They were created for Ken Lay (Enron.)

Does anyone know the names of the speculators? Who pays them? How did they get there in the first place? Why are they there at all? Do we need someone to tell us that one day oil will be gone? I remember that from my third or fourth grade geography class.

Find these guys, strip them, whip them and run them naked through the tall weeds! Better yet, send the National Security Agency after them and arrest them in the name of national defense!

A-Patriot wrote:

Does anyone know the names of the speculators? Who pays them? How did they get there in the first place? Why are they there at all? Do we need someone to tell us that one day oil will be gone? I remember that from my third or fourth grade geography class.
Find these guys, strip them, whip them and run them naked through the tall weeds! Better yet, send the National Security Agency after them and arrest them in the name of national defense!

There are thousands, and their (artificial) market is perfectly legal.
They have commited no crime. It is not a crime to gouge your fellow citizens in neo-conservative America. Look to the drug compamies for confirmation of this fact.

We must simply use tax and regulatory tools to end this. Punishing speculators for legal wheeling and dealing is counter productive.
As it is, they will whine and cry that we are 'hurting' their right to screw us over.

National security demands that we end these phony markets.

http://money.cnn.com/2008/06/24/news/economy/...

http://www.google.com/search...

http://www.google.com/search...

Stop Oil Speculation Now
http://www.stopoilspeculationnow.com/

Stop Oil Speculation Now Press Conference
http://www.stopoilspeculationnow.com/site/pag...

TEXAS REPUBLICAN SENATOR PHIL GRAMM & ENRON MANIPULATING OIL PRICES./ Michael Greenberger, Former Director, Commodities Future Trading Commission 1997-1999.
Michael Greenberger discusses the role of unregulated oil speculators on the buying and selling of oil futures. He says legislation passed in 2000 created an environment where oil speculators influence the current day price of oil and other crude products.
5/27/2008: WASHINGTON, DC: 28 min.
http://www.c-span.org/VideoArchives.asp...

Most if not all Bush Republican supporters are not conservatives. They are Neo-Cons who are apologist for the wealthiest top 1% percentile.

They have been thoroughly bamboozled for the last 30 years of rightwing propaganda and corrupt corporate mainstream media, which they believe is liberal!

Sincerely,
Leo Strauss

Mr_Bill wrote:

Two sepatate 'futures' or hedge markets make up about 50% of the rise in oil prices.
Complete elimination of these phony markets (with a 100% profits tax, or some other regulatoy solution) would cut the price of gasoline by $2.00 or more.
They did not exist 8 years ago. They were created for Ken Lay (Enron.)

is that ice and chicago?

donkeyman wrote:

dam right those dirty speculators have driven down the oil prices this last week. this is not acceptable. there should be a law.

Excuse me, but the speculators have NOT driven down oil prices. If anything, the massive amounts of money that earlier speculators are now LOSING because the prices are dropping while the speculators are trying to keep up the price is driving the prices down even further.

A-Patriot wrote:

Does anyone know the names of the speculators? Who pays them? How did they get there in the first place? Why are they there at all? Do we need someone to tell us that one day oil will be gone? I remember that from my third or fourth grade geography class.
Find these guys, strip them, whip them and run them naked through the tall weeds! Better yet, send the National Security Agency after them and arrest them in the name of national defense!

They are easy to find. Many union and other retirement plan management firms are in the market. As they were in the housing market fueling that boom for years until it went pop. They just moved to the next hot money maker. What brought down the price of oil was the idea of opening up offshore drilling and the stress put on green energy. Let that get going and thats where the money will go next,to those start up companies doing wind farms,ect.

The first indictments are being handed down today.

http://money.cnn.com/2008/07/24/markets/cftc/...

We will see if the Republicans and Democrats have enough lobbyist money socked away to pass this.

Zydeco wrote:

The first indictments are being handed down today.
http://money.cnn.com/2008/07/24/markets/cftc/...

interesting the charges are only civil and not criminal. What would it take to be criminal :-)

well now. going after speculators is a desperate attempt to save their gas tax. consevation on gas is killing their budgets. so with their desperate speculation bill stalled they look to inject 8 billion in funds for roads and bridges and whatever else.bush might veto. they are desperate and scared.

Here's a follow up story regarding the oil speculation indictments handed down today. They had better take these guys into protective custody.

http://money.cnn.com/2008/07/24/markets/cftc/...

Zydeco wrote:

Here's a follow up story regarding the oil speculation indictments handed down today. They had better take these guys into protective custody.
http://money.cnn.com/2008/07/24/markets/cftc/...

Thanks, A, I'll post it!

Zydeco wrote:

Here's a follow up story regarding the oil speculation indictments handed down today. They had better take these guys into protective custody.
http://money.cnn.com/2008/07/24/markets/cftc/...

Thanks, Z, I'll post it.