Recent Topics
Shell Helix Ultra 0w-40, 10782km in Saab B202L
by turboseize
Today at 06:38 AM
Very long article - 540 RAT tech facts not myths
by paulswagelock
Today at 06:33 AM
Archoil
by OneEyeJack
Today at 06:30 AM
Recommend Shoulder Holster
by Smoky14
Today at 06:27 AM
Painting fake wood paneling
by Oldtom
Today at 01:25 AM
Paint Brushes - Home Improvement
by Merkava_4
Yesterday at 11:46 PM
How do you determine the proper HTHS rated oil?
by 79sunrunner
Yesterday at 11:29 PM
Saved a puppy
by barkingspider
Yesterday at 10:39 PM
Slick 50
by CrackyWainwright
Yesterday at 09:28 PM
Bmw twin power 5w30
by BTLew81
Yesterday at 09:08 PM
Older car but low mileage. Change or not?
by Martin10
Yesterday at 08:07 PM
F1 - 2016 Belgian Grand Prix
by gofast182
Yesterday at 07:55 PM
Newest Members
ryaneirich, Gabe78, taters, Louis_Desbiens, Burk
58918 Registered Users
Who's Online
84 registered (2015_PSD, 2009Edge, 09_GXP, A310, 65convertible, 8 invisible), 1366 Guests and 8 Spiders online.
Key: Admin, Global Mod, Mod
Forum Stats
58918 Members
66 Forums
253522 Topics
4161656 Posts

Max Online: 2862 @ 07/07/14 03:10 PM
Donate to BITOG
Page 1 of 2 1 2 >
Topic Options
#2546258 - 02/23/12 06:12 PM Saudis & Oil Speculators
buster Offline


Registered: 11/16/02
Posts: 30206
Loc: NJ
_________________________


Top
#2546271 - 02/23/12 06:30 PM Re: Saudis & Oil Speculators [Re: buster]
eljefino Offline


Registered: 06/15/03
Posts: 29569
Loc: ME
We need tools to knock the knees out from under speculators when things get ridiculous. Be nice to have preset "circuit breakers" like a 55 mph speed limit or even extra gas tax that would cut consumption beyond whatever margin the traders are counting on, if a price per barrel increase goes over a certain % over X months. That preset, already-law circuit breaker would overshadow said speculators and might convince them to find other pickings.

Begging the saudis is kind of low for a first world nation, but we weren't and aren't rife with options.

Top
#2546283 - 02/23/12 06:50 PM Re: Saudis & Oil Speculators [Re: buster]
SHOZ Offline


Registered: 06/28/03
Posts: 3673
Loc: Illinois
Tax to cut consumption? Consumption is way down and dropping every year further.
_________________________
2008 Hyundai Accent 1.6L 5 sp manual hatchback
2010 Hyundai Genesis Coupe Track 2L Turbo 6sp manual

Top
#2546293 - 02/23/12 07:05 PM Re: Saudis & Oil Speculators [Re: eljefino]
demarpaint Offline


Registered: 07/03/05
Posts: 25597
Loc: NY
Originally Posted By: eljefino
We need tools to knock the knees out from under speculators when things get ridiculous. Be nice to have preset "circuit breakers" like a 55 mph speed limit or even extra gas tax that would cut consumption beyond whatever margin the traders are counting on, if a price per barrel increase goes over a certain % over X months. That preset, already-law circuit breaker would overshadow said speculators and might convince them to find other pickings.

Begging the saudis is kind of low for a first world nation, but we weren't and aren't rife with options.


Bingo!!
_________________________
God Bless Our Troops


Top
#2546302 - 02/23/12 07:19 PM Re: Saudis & Oil Speculators [Re: buster]
NHGUY Offline


Registered: 10/09/11
Posts: 4676
Loc: USA
There was a time when there were no speculators bidding on oil futures.I think it all started in 79.Why it was even allowed back then I will never know.

Top
#2546304 - 02/23/12 07:20 PM Re: Saudis & Oil Speculators [Re: buster]
Boomer Offline


Registered: 09/19/08
Posts: 1814
Loc: Pennsylvania
I think if we required that you actually had to have the facilitities to accept physical delivery of oil before you could buy futures, a lot of this [censored] would disappear.
_________________________

2013 VW Passat TDI SE, 33,300 miles
2014 VW Jetta TDI SportWagen 18,055 miles

Top
#2546325 - 02/23/12 07:41 PM Re: Saudis & Oil Speculators [Re: NHGUY]
Drew99GT Offline


Registered: 10/11/02
Posts: 21542
Loc: Colorado Springs
Originally Posted By: NHGUY
There was a time when there were no speculators bidding on oil futures.I think it all started in 79.Why it was even allowed back then I will never know.


Some speculation in markets is good. History has shown us that, especially historically in agriculture markets, as a certain amount of speculation helps with price stability (both ways).

However, what's happened in the oil market over the past decade is nothing but theft IMO.

http://news.firedoglake.com/2011/05/25/cftc-charges-oil-traders-in-2008-speculation-scheme/

Gasoline demand in the United States is at a 10 year low, we're exporting record amounts of refined gasoline, and the price of gas has never been this high at this point in a year.

It's partly supply and demand, partly the result of the devalued dollar, but to deny that part of the problem is financial corruption is just lunacy.

Top
#2546328 - 02/23/12 07:44 PM Re: Saudis & Oil Speculators [Re: buster]
GROUCHO MARX Offline


Registered: 07/24/02
Posts: 11410
Loc: The Sandhills of NewYorkistan
Tell the Iranians to play nice.
_________________________
80% of people polled say that their neighbor should take mass transit to work.

Top
#2546334 - 02/23/12 07:49 PM Re: Saudis & Oil Speculators [Re: buster]
Drew99GT Offline


Registered: 10/11/02
Posts: 21542
Loc: Colorado Springs
For the record, I invested in an energy ETF a few weeks ago with the thought that all this talk about Iran will make crude oil futures start climbing again.

Might as well get in on the action if you can.

Top
#2546358 - 02/23/12 08:14 PM Re: Saudis & Oil Speculators [Re: buster]
Mr Nice Offline


Registered: 09/12/04
Posts: 17033
Loc: Orlando, FL
And if Iran gets attacked this summer ?????
_________________________
2007 Civic EX
2006 Accord SE
2005 RSX base

Top
#2546371 - 02/23/12 08:20 PM Re: Saudis & Oil Speculators [Re: buster]
spock1 Offline


Registered: 01/19/12
Posts: 233
Loc: Edmonton, Alberta, Canada.
You guys may want to check out this link for a different spin.

http://lindseywilliams101.blogspot.com/2011_06_22_archive.html

Top
#2546440 - 02/23/12 09:16 PM Re: Saudis & Oil Speculators [Re: buster]
Y_K Offline


Registered: 05/29/09
Posts: 1627
Loc: WA (USA)
I am not buying into this sad Saudi tale
_________________________
Corruptissima republica plurimae leges

Top
#2547767 - 02/25/12 06:42 AM Re: Saudis & Oil Speculators [Re: buster]
grampi Offline


Registered: 10/08/06
Posts: 6066
Loc: OH
Today's ridiculous prices are mainly caused by out-of-control speculation...

Top
#2547788 - 02/25/12 07:17 AM Re: Saudis & Oil Speculators [Re: Y_K]
demarpaint Offline


Registered: 07/03/05
Posts: 25597
Loc: NY
Originally Posted By: Y_K
I am not buying into this sad Saudi tale


The Saudi tale just helps fuel the speculators that's all. It's a small part of the mix blown out of proportion. If we see $5 a gallon gas expect the auto industry to take a dump again. It might be time to buy that new car you've been dreaming about, the dealers will be begging for sales like they were a few years ago. JMO
_________________________
God Bless Our Troops


Top
#2548827 - 02/26/12 06:59 AM Re: Saudis & Oil Speculators [Re: buster]
SteveSRT8 Offline


Registered: 10/10/08
Posts: 17670
Loc: Sunny Florida
I like the idea that if they pump it up here then they sell it here.

This whole price thing is occurring when supplies are HIGH and demand is LOW. Completely bass-ackwards.

It is not the fault of oil speculators... it is the fault of oil exportation! There should be a strategic tariff on exported oil and oil products.
_________________________
"In a democracy, dissent is an act of faith."
J. William Fulbright
Best ET-12.79 @ 111 mph
4340 pounds, Street tires
Just like we go to Publix

Top
Page 1 of 2 1 2 >