[Seahag]

The facts are this country is full of rich mutharfukkers willing to screw their fellow countrymen and nation to line their own pockets.

Read this: ICE, ICE, Baby, conclusion | Ed Wallace | Star-Telegram.com

[SPORSTERBOY]

isn't that the repub-I mean american way, and how do they think we can fix this little loop hole, think that should be up to the state oficials sittin at the white house getting a free ride on our tax dollar, I'm sure if I was make'n over 100k a year and had a expence account, I wouldn't give 2 craps either.

[Red Rider]

So the oil market is all a fantasy and the Democrat's successful opposition to any domestic oil drilling and of any additional domestic refining capacity for over 30 years had no significant impact?

I agree with parts of this article: OPEC ain't to blame. OPEC has largely kept to their production goals, but they have needed to export less oil as they are using more themselves. (Actualité de la bourse sur BP - BPLC : interviews, rumeurs de marchés, analyses, dossiersEasyBourse)

Commodities markets have been around for over a hundred years, and can be and have been useful. Note that speculators are subject to losing money, too. These markets actually stabilize costs for the business and consumers that need the products.
There are other nasty truths ignored in the article, like everytime we mess with our oil companies we weaken them (EXXON, our largest oil company, now controls only 3% of global oil) and the foreign ones can market elsewhere - and do.

The real fact is if we produced and refined our own oil, it would greatly reduce the price of it and keep the dollars doing so right here at home, circulating in our economy longer. But Democrats oppose that. Environmental concern? Did you know about 1000 off-shore wells were severely damaged or destroyed during the hurricanes of 2005? Remember the TOTAL LACK of oil spills from these wells? Oh, yeah - can't report that, it would have been good news and not nearly as damaging to the President as the friggin' fairy tales of cannibals roaming Bourbon Street or SEAL teams blowing levees .

There a crap-head politicians on both sides, and this year more than ever, but if we keep getting the same old class-envy-baiting from the press, and keep accepting the media's same old stereotyping of Republicans ("fat cat, racist, sexist, homophobic" etc), we deserve the coming fall to Third World status that socialism will bring us to.

[CD]

Red is correct IMHO. We have a crisis and the politicians want to blame the problem on our inability to refine gas fast enough to keep up with demand.... So, build some REFINERIES!!!It ain't rocket science and if we pumped our own juice, refined it, mandated better, cleaner fuels.... Aw, screw it, won't happen.

[Seahag]

If we pump more of our own oil, the commodities buyers will just snap up even more...Do you honestly think an american oil company is going to sell domestic oil at a discount to us and not make as much money as possible? Drilling for more domestic oil and creating new refineries will have a marginal effect on our gas prices the way the futures market is now unregulated.

Here is some more information:

McCain Defends 'Enron Loophole' | BaltimoreChronicle.com

We had a chance to reverse the "Enron Loophole" and McCan't voted against it.

[Red Rider]

I am sorry to say that there is a near criminal lack of economic knowledge in the USA today. Commodities speculators and hedges actually contribute to stability in pricing. As with everything, there can be abuses of the systems, but this is not the problem with oil pricing. Even when abused the system cannot be manipulated to anywhere near the extent that idiots like McCain and Obama are stating.

The major media and the Democrat party (are they different?...89% of journalists are registered Democats) are just looking for a scapegoat. They can blame the commodities market because the people don't get economic education anymore....thanks to public schools' failure.

Bottom line: Even if you believe the propaganda and lies of the media that it is all Dick Cheney/Big Oil (except Chavez's CITGO, which are angels)/speculators - even if you've surrendered your common sense and free will to that way of zombie-herd-like comprehension - don't you think that the price of gas would be lower if we hadn't dropped our domestic production and refining capabilities about 40% over 30 years because of suicidal government restrictions? Restrictions that may have been originated by valid concern, but make no sense today.

Off shore oil production is safe - a thousands wells damaged by Rita and Katrina and no spills - but opposed by the Dems (but they say nothing when China and Cuba drill into the same reserves off Florida). Nuclear power has been on Navy ships safely for 50 years - but we aren't allowe to expand that either (thanks again, Dems). Did ya know that a nuke sub powered San Francisco after the '89 quake? Or that one did a Hawaiian island after a hurricane? Our energy problems have all been created and sustained by our Democrat Party.....and with the full support of our hysterical media....so of course it has to be SOMEONE ELSE'S fault.

[Seahag]

Originally Posted by Red Rider

I am sorry to say that there is a near criminal lack of economic knowledge in the USA today. Commodities speculators and hedges actually contribute to stability in pricing. As with everything, there can be abuses of the systems, but this is not the problem with oil pricing. Even when abused the system cannot be manipulated to anywhere near the extent that idiots like McCain and Obama are stating.

These two articles are not all I've read on this subject...nearly all of the material I've seen is from 'trained' economists and people who's job it is to know these things. Since I don't have the education in those areas I will trust those who have been educated in the field. What kind of credentials makes you an expert to dispute these claims other than your obvious hatred of democrat policies?

[Art_NJr]

Originally Posted by Seahag

These two articles are not all I've read on this subject...nearly all of the material I've seen is from 'trained' economists and people who's job it is to know these things. Since I don't have the education in those areas I will trust those who have been educated in the field.

There is nothing better than your own research. Yes, it's VERY time-consuming & because of that very few people will do it, but if you're willing to, you'll "separate the wheat from the chaff". I've been @ it for going on 17 years & my Dad taught post-graduate Economics for 27 (passed on in 2002). We both have been called "conspiracy theory nuts" because the public doesn't want to know the truth & the "news" media hasn't got a clue. It's in the libraries though - just have to dig.

[WildWindwalker]

I really wanted to reply but you folks covered almost all of it, Almost! China has a lease agreement with Cuba I was not aware they were already drilling. If they can than the United States should be also!

However there are many reasons that are oil is high. I will explain the main two in order respectively. First is law of supply and demand. They have us here, if we are not willing to change our habits to lower demand, the price will remain or rise. If we carpool,use more pulic transport, make planned trips to town, instead of several trips, maybe even call a neighbor and ask if there is anything you may pick up for them. Buy more fuel efficient vehicles like my harley davidson,or maybe a hybrid of some sort. But Global demand is great with India and China being so industrious there is great demand. That is why Diesel is so high. I know I have two Road Tractors and have only licensed one for the last two years. Second is the value of the U.S. Dollar when it is weaker everything costs more!