Recent Topics
Difference between silicone caulking ?
by Merkava_4
05/29/16 06:15 PM
The Top Dexos2 Oil Available in the USA is What?
by Best F100
05/29/16 05:24 PM
Virgin Puro L14006 [Cut open]
by Run
05/29/16 05:13 PM
The 17 year cicada is here. (locust) PIC HEAVY.
by Rand
05/29/16 04:23 PM
How long is sealed coolant good for?
by addyguy
05/29/16 04:08 PM
4T65E 2006 Buick Lucerne Normal decel gear banging
by deanm11
05/29/16 03:41 PM
California drought and 3" fish delta smelt
by HTSS_TR
05/29/16 03:18 PM
High SAPS & DPF Re-Gen
by userfriendly
05/29/16 02:50 PM
Decent little string trimmer
by Papa Bear
05/29/16 02:24 PM
Pirelli
by borgward
05/29/16 02:10 PM
'88 Cadillac smog (Emission test) fails
by momo
05/29/16 01:59 PM
Towing what to look for?
by Camprunner
05/29/16 01:48 PM
Newest Members
Moutainman31282, AlaninPA, z0bug33, smitty31, jimshep
58013 Registered Users
Who's Online
97 registered (04SE, bdcardinal, B320i, Bandito440, ag_ghost, Berny, 12 invisible), 1494 Guests and 328 Spiders online.
Key: Admin, Global Mod, Mod
Forum Stats
58013 Members
66 Forums
249572 Topics
4085809 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: 30115
Loc: NJ
_________________________


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


Registered: 06/15/03
Posts: 29155
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: 3301
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: 24975
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: 4616
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: 1798
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.
_________________________
2003 Saturn L 300 128,100 miles
2013 VW Passat TDI SE, 31,150 miles
2014 VW Jetta TDI SportWagen 17,010 miles

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


Registered: 10/11/02
Posts: 21468
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: 21468
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: 16637
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: 1538
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: 5633
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: 24975
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: 17433
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 >