Speculators are sending prices to levels never seen before. Is itprofiteering or an essential way to

Discussion in 'General Motoring' started by Joe, May 16, 2008.

  1. Joe

    Joe Guest

    Joe, May 16, 2008
  2. Joe

    The Trucker Guest

    Yup. When money isn't worth spit prices are gonna be very high. And when
    when it is possible for just a few people to buy up 10% of the oil flow
    for a given month then you will have what we have right now. Too much
    money in the hands of the privileged few. The regulation of this
    particular commodity is absolutely essential to insure that consolidation
    into hands accountable only to themselves cannot occur. That the Saudis
    have a very large share of the oil supply is bad enough. We do not need
    the "cornering of the market" adding to the problem.

    "I know no safe depository of the ultimate powers
    of society but the people themselves; and
    if we think them not enlightened enough to
    exercise their control with a wholesome
    discretion, the remedy is not to take it from
    them, but to inform their discretion by
    education." - Thomas Jefferson
    The Trucker, May 16, 2008
  3. Joe

    Bob Eld Guest

    That's our capitalist system at work. The problem is that any kind of
    government intervention, like price controls, over taxation, tariffs, and so
    on NEVER works. We can nibble at the edges and should do it but blatant
    action that smacks of a controlled economy will backfire big time. That's
    the main problem in the Communist and Socialist countries and the main
    reason they failed. Look at China. Nixon tried price controls and that went
    over like a lead balloon.

    The only long term answer is competition from alternative energy. Sooner or
    later it has to be done in any case because petroleum is finite. So, why not
    now? Support efforts to develop alternative energy, support biofuels and
    other alternatives. It's the ONLY way we can break the yoke.

    Speculators have moved into oil, food and other commodities because stocks
    and real estate have been poor investments recently. Much of that has to do
    with the value of the dollar which is caused by excessive borrowing to pay
    for two wars. Everything has consequences. Government spending without
    proper taxation is part of the problem. If the US gets it's fiscal house in
    order then the speculators will move money back into traditional investments
    and oil, food and so on will stabilize.

    Don't vote republican, they have no clue how to run an economy as we can
    plainly see.
    Bob Eld, May 18, 2008
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