President Obama orders Attorney General Holder to create a team to root out fraud and...


President Obama orders Attorney General Holder to create a team to root out fraud and manipulation in oil markets, with a focus on market traders and speculators. Plus ça change ...

Comments (62)
  • TechnologyMike
    , contributor
    Comments (33) | Send Message
     
    why don't you just set the price of oil to what you want it to be......
    21 Apr 2011, 02:58 PM Reply Like
  • DagnyTaggart
    , contributor
    Comments (486) | Send Message
     
    He can't...so he is doing what all bureaucrats do...

     

    When you can't control the situation...control the information.
    21 Apr 2011, 03:02 PM Reply Like
  • Econdoc
    , contributor
    Comments (2938) | Send Message
     
    agreed - just pick a number - that's how markets work - call it $50 dollars and just order them to trade at those levels - problem solved

     

    what dumies we all are -
    21 Apr 2011, 03:03 PM Reply Like
  • enigmaman
    , contributor
    Comments (2868) | Send Message
     
    Just a distraction, a sideshow, wants the focus off him and on the BIG BAD OIL companies, traders and speculators. Somebody is going to pay for the rising price of oil and you can bet he makes sure it wont be him.
    21 Apr 2011, 03:01 PM Reply Like
  • Tack
    , contributor
    Comments (16281) | Send Message
     
    The sad part is that when you see the responses to various polls about who is trusted more with finances, the Dems or Repubs, the Dems win by wide margins. That tells me this clown is going to get re-elected by the carefully-cultivated, dependency-driven ignoramuses that got him there in the first place.

     

    Plan accordingly.
    21 Apr 2011, 03:26 PM Reply Like
  • enigmaman
    , contributor
    Comments (2868) | Send Message
     
    How come no thumbs down, I thought BIG BROTHER was watching!
    21 Apr 2011, 03:49 PM Reply Like
  • kmi
    , contributor
    Comments (4587) | Send Message
     
    Democrats and Republicans both frequent SA and most would rather make up their own minds than be told 'Reps/Dems are evil bad guys intent on destroying everything.'

     

    I don't want to hear it either, if you can't make a valid argument without saying 'evil Rep, evil Dem' keep your politics to yourself or be prepared to enjoy my thumbs down.
    21 Apr 2011, 06:11 PM Reply Like
  • rick flair
    , contributor
    Comments (369) | Send Message
     
    bwhahahahahahahaha....... a f'n shcmuck..................
    21 Apr 2011, 03:04 PM Reply Like
  • Derek A. Barrett
    , contributor
    Comments (3554) | Send Message
     
    Um no.

     

    Goldman Sachs has manipulated the oil markets before, they are probably up to their old shenanigans:

     

    www.forbes.com/forbes/...
    21 Apr 2011, 03:04 PM Reply Like
  • DagnyTaggart
    , contributor
    Comments (486) | Send Message
     
    Even if this was a actual conspiracy and fraud, Goldman contributes enough to Obama's coffers that they will not even be considered.

     

    Just look at what happens when *actual* Goldman frauds are revealed. They just pay a small fine to the SEC (much smaller than the ill-gotten gains), never admit guilt, walk away, rinse and repeat.
    21 Apr 2011, 03:22 PM Reply Like
  • Joe Morgan
    , contributor
    Comments (1608) | Send Message
     
    Mr.Obama you are playing with fire be careful....

     

    Just remember, capital goes to where it is treated well....
    21 Apr 2011, 03:05 PM Reply Like
  • al9000
    , contributor
    Comments (54) | Send Message
     
    But who will protect us from the Government?
    21 Apr 2011, 03:05 PM Reply Like
  • rick flair
    , contributor
    Comments (369) | Send Message
     
    make it stop......
    21 Apr 2011, 03:05 PM Reply Like
  • Duude
    , contributor
    Comments (3413) | Send Message
     
    This is all about making a good show of feeling consumer pain. Obama and his environmental allies want oil higher but can't cop to that truth. When oil is higher, his environmental alternatives gain more support. If oil dropped to $50 a barrel his environmental goals fall flat.
    21 Apr 2011, 03:06 PM Reply Like
  • Stoploss
    , contributor
    Comments (1713) | Send Message
     
    He's still short four teams. It is a good distraction. 33 pips..
    21 Apr 2011, 03:06 PM Reply Like
  • rick flair
    , contributor
    Comments (369) | Send Message
     
    mendacious AND stupid....what a combo....hey , that could be thier duo name , stand-up comedy...
    21 Apr 2011, 03:06 PM Reply Like
  • flyr1710
    , contributor
    Comments (6) | Send Message
     
    a week or two ago he couldn't do anything about the price of oil - what makes him think he can now
    21 Apr 2011, 03:06 PM Reply Like
  • enigmaman
    , contributor
    Comments (2868) | Send Message
     
    fly- necessity !
    21 Apr 2011, 03:15 PM Reply Like
  • halconnoche
    , contributor
    Comments (68) | Send Message
     
    Now its time to use the AG to find a scapegoat to blame gas prices on? Or use the AG dept as part of the 2012 campaign strategy? How about drilling for more oil at home.
    21 Apr 2011, 03:07 PM Reply Like
  • rcmcfe
    , contributor
    Comment (1) | Send Message
     
    Couldn't he just blame bush, cheney & halliburiton?
    21 Apr 2011, 03:10 PM Reply Like
  • enigmaman
    , contributor
    Comments (2868) | Send Message
     
    rcm- he has, he does and he will
    21 Apr 2011, 03:16 PM Reply Like
  • Morg
    , contributor
    Comments (250) | Send Message
     
    If oil prices are only high because of speculation then why are the prices of every other commodity up massively as well? Unless it a big speculator conspiracy it is completely due to Fed monetary policy, government deficit spending, and a weaker dollar.

     

    This is nothing more than a government exercise in obfuscation in order to cover their own asses.
    21 Apr 2011, 03:10 PM Reply Like
  • Morg
    , contributor
    Comments (250) | Send Message
     
    I see lots of thumbs down for my post, but no counter points people. If you disagree lets hear it and have a debate.

     

    I am open minded and can change my mind how about you?
    21 Apr 2011, 03:44 PM Reply Like
  • Joe Morgan
    , contributor
    Comments (1608) | Send Message
     
    Morgan, this is a well known problem on SA...the thumbs down troll..

     

    Keep writing, it hurts them...
    21 Apr 2011, 03:49 PM Reply Like
  • Derek A. Barrett
    , contributor
    Comments (3554) | Send Message
     
    There is no doubt alot of this is a political move to get cover, because people will be asking the President what he was doing when oil prices were spiking. Everyone with any common sense understands commodities have been up because of money printing, and oil especially hurt because of international disruptions in the middle east due to political turmoil.

     

    HOWEVER, specifically in the case of oil, that does not exclude the possibility of speculators juicing up the prices, as Goldman Sachs has a history of doing, and they should be investigated for any wrong doing.

     

    These shananigans have been well documented, even by crazy wacko leftist magazines like....Forbes?

     

    But as DagnyTaggart above noted, they will just get a slap on the wrist when they get called out, as half the damn government has a working history with them anyway.

     

    I do find it funny oil majors are up after Goldman's down call, but they will be profiting anyway. Tell clients one thing on the front end, but take advantage of the call on the backend.
    21 Apr 2011, 04:16 PM Reply Like
  • CharlieM
    , contributor
    Comments (149) | Send Message
     
    Morg,
    Don't take it personally. There are those out there that want to protect the greatest show on earth. This current administration has been so incompetent at governing the administration should not be compared to real government. IF there is manipulation it will probably be found in their own doing and for that the report of findings will be ignored as have so many that shed poor light on them.

     

    In summary: The current administration would be the envy of P.T. Barnum.

     

    (Watch the thumbs down I get for this)
    21 Apr 2011, 04:23 PM Reply Like
  • Morg
    , contributor
    Comments (250) | Send Message
     
    Thanks for stating your opinion lightway.

     

    I agree with most of your points (especially about the Goldman vampire squid) and there is likely a premium that investors have tagged on to oil prices. My guess (though I have no evidence currently) is that this is only a small portion of the overall rise in costs.

     

    The dollar for example is down somewhere in the 17% range since last June. Only the actions I listed in my original post can have this dramatic of an affect. This is by far the major component of the increase (at least in dollar terms) in US oil costs in my opinion. Combine that with the various crisis occurring in the oil producing Middle East and North Africa along with higher demand from emerging economies and you have a recipe for a big price rise. Prices rising while the dollar devalues has a multiplier affect on the total cost increase.

     

    Could there be a premium built into oil prices by speculation? Sure, but it is likely insignificant. I agree that manipulation should be investigated if it exists. But this move by the president is purely political as he provides cover for the government's involvement in causing higher oil prices.

     

    Again my point is that it can't be just speculators driving up prices in oil if prices across a wide spectrum of commodities are rising as well.

     

    Good discussion.
    21 Apr 2011, 05:17 PM Reply Like
  • Derek A. Barrett
    , contributor
    Comments (3554) | Send Message
     
    Yep, I agree with pretty much what you said, appreciate the discussion as well.
    21 Apr 2011, 05:49 PM Reply Like
  • kmi
    , contributor
    Comments (4587) | Send Message
     
    I think there's a lot of spec money in oil, and my opinion is informed by the oil-NG pair, so I'm open to discovery.

     

    In my opinion, if there is no speculative funny business in oil, the AG will find nothing, and tell us as much; if there is, then good job finding it and something should indeed be done. Either way, transparency and the commodity consumer benefits, which is at it should be.
    21 Apr 2011, 06:19 PM Reply Like
  • Morg
    , contributor
    Comments (250) | Send Message
     
    KMI,

     

    I guess I don't see how the oil-NG pairing shows there is excessive speculation in oil markets. They are very different commodities. An explanation of your conclusion would be helpful to my understanding.

     

    I am absolutely fine with legitimate regulation and enforcement, but this has the appearance of demagoguery and a potential "speculator" witch hunt.
    21 Apr 2011, 06:39 PM Reply Like
  • kmi
    , contributor
    Comments (4587) | Send Message
     
    In most areas of energy consumption outside of transportation NG and oil are interchangeable relatively seamlessly, so oil and NG have maintained a certain relationship in what you pay BTU for BTU.

     

    That relationship has broken down lately and looking at NG to Oil for virtually anything NG is from 30% cheaper or more BTU for BTU.

     

    So, either NG has to go up or oil come down. NG hasn't wanted to budge, but oil continues climbing.

     

    It's more complicated than that of course - refineries, summer driving seasons, etc, but the crux is the pair is so out of whack there is something odd, and I'd like to know if the change in relationship looks to be permanent - i.e. oil permanently more expensive btu for btu than NG, or speculation driven, and if the AG discovers what's going on, great.
    21 Apr 2011, 06:55 PM Reply Like
  • CharlieM
    , contributor
    Comments (149) | Send Message
     
    kmi,
    you said, "In most areas of energy consumption outside of transportation NG and oil are interchangeable relatively seamlessly,....
    It's more complicated than that of course - "

     

    I KNOW this is paraphrasing your points but please indulge me for a minute as I speak as an engineer on these selected items.

     

    Imagine if you will for a moment that there is NO mineral oil coming from the earth. How many things could NG NOT replace it.
    Outside of everything from plastics to paints you too would have lubricants (both grease and industrial lubrication fluids). An electric automobile would be a wonderful fantasy but, how long would it last without grease for all of the suspension and stearing as well as the oils for transmissions and air conditioning? We CAN NOT do without mineral oils. There simply are not enough alternatives to replace them. Before a lot of you start in on me, yes I am aware of synthetic alternatives, ester resins and the likes. BUT, if you think an automobile service is expensive now wait until you have to grease your car with a $300 tube of ester resin grease!
    This does not begin to address things like industrial lubricants, commercial power fluids and the like.
    Some solutions to be contemplated? I would be MORE than willing to see our tax dollars persue alternatives to creating oil. That's right pure mineral oil. I remember once was the time when we used ONLY natural diamonds. The poor quality ones were ground and used for industrial applications. Now we have processes to utilize extreme temperature and pressures to create diamonds of high quality much as nature did and continues to to it. WHY isn't someone working on a process that will replicate the way nature created the oils we drill for?
    Looking at the costs to convert to electric everthing will put a HUGE tax on resources not so plentiful. Batteries will have to be made that too have a limited natural resource to support. Generation of that power has HUGE infrastructure costs as well.
    We look at the now abundant NG resources. I have to ask are they REALLY? They too suffer from the same finite limits that the discovery of oil faced. How long would it be before natural gas would be depleted? Would, in the long run, the costs to move to NG usage be worth the duration of this switch? Remember we are now talking a world wide usage.
    22 Apr 2011, 08:45 AM Reply Like
  • Tack
    , contributor
    Comments (16281) | Send Message
     
    Charlie:

     

    Very salient points.

     

    The problem with the opponents of fossil fuels of any kind is that they accept no moderation, compromise or factual realities. They are driven by a feverish commitment to an ideaology that borders on religion that fossil fuels will destroy human life and end the planet, or at least they say that to engender fear, so they may assert the control they wish over human behavior. And, frankly, stripped of its disguises, that's what it's really all about, power.

     

    Just as an aside, I've often thought that the very same folks who despise and protest against the use of oil, gas, coal and nuclear and promote Quixoitic windmills will find new fodder for protest one of these days, if enough windmills are built. I'll proffer the theory that, since windmill energy is so inefficient at mass energy production, if enough windmill farms are actually ever built on Earth, so as to actually make a dent in energy needs, the resultant disturbance to and rearrangement of global air flows will be discovered (or at least theorized as such by those who see fear and problems in everything) to present new global ecological and weather-disturbance dangers of every conceivable kind.

     

    So, there are no simple, pure answers to human needs and one must make choices amongst viable economical alternatives; otherwise, capital will be grossly misallocated, and everybody's productivity and standard of living will suffer. Right now, rational choices are being derailed by adherence to an inflexible political regimen, and we're all paying the consequences, especially so here in America.
    22 Apr 2011, 09:01 AM Reply Like
  • kmi
    , contributor
    Comments (4587) | Send Message
     
    I'll respond to a couple of things -

     

    One is, that my concern in oil and opinion there is spec money in it has nothing to do with what you stated, that the separation of the two seems like shenanigans, and hell I could be woefully misinformed. I'm not making a case against the fact that oil is indeed being used or necessary for a functioning industrial world, I'm saying that spec money has overpriced oil.

     

    The second is, since you opened the door there, let me propose that -efficiency- is huge. In everything everywhere, including energy. For example computers today are using less and less energy yet becoming more powerful, refrigerators are being better insulated and consume less energy, li-ion batteries store more and generate more energy.

     

    For $800 in caulk and foam one can improve the energy efficiency of one's home and reduce the energy it consumes better than installing a $5,000 new energy efficient HVAC system.

     

    Does the world suffer an energy problem? Only somewhat. In NYC we have folks pulling methane out of the sewer.

     

    www.nyc.gov/html/dep/h...

     

    i.e., the solution to the energy problem is simply a matter of intelligent people finding intelligent solutions. When the price of oil reaches the right 'pain' threshold lots of private entrepreneuialism will annihilate the problem, I'm not worried. But today, I'm just talking that btu for btu, oil is ridiculous. If nothing else, feel free to download and play with the EIA's excel calc here:

     

    www.eia.doe.gov/tools/...

     

    As for the switch to NG, I won't get into all that here, maybe on another post...
    22 Apr 2011, 09:06 AM Reply Like
  • Morg
    , contributor
    Comments (250) | Send Message
     
    KMI,

     

    What Charlie was saying (as my response would have been) is that oil has a great number more uses than just as an energy source. Plastics being an example Charlie chose to use. Thus there will be a great deal more demand on the commodity year round.

     

    While there is likely some premium being placed on oil by investors I believe it has a great deal more to do with dollar devaluation being caused by government activities. Take a look at the DXY (US dollar)/ Oil Pair. Since June the charts of each asset are a rough inverse of one another. Could there be some speculative premium? Sure, but it is likely insignificant compared to the massive cost increase brought on by our devaluing currency (which is near all time lows currently).

     

    If you are interested here is a link to the Market Ticker blog where the author has pulled up the dollar/oil comparison. market-ticker.org/akcs...

     

    Thanks for the discussion
    22 Apr 2011, 12:27 PM Reply Like
  • CharlieM
    , contributor
    Comments (149) | Send Message
     
    Morg, KMI and Tack,
    Thank you for sharing your thoughts and opinions. I DO enjoy seeing intelligence in investing and you have helped to restore some belief for me that this is the case through your additions here.
    I'll add a little more to help clarify my position relative to the original article here.
    Do I believe that speculation has driven the price of oil higher? NO!
    Fear, demand and as Morg has pointed out currency values, I believe are more to blame. As I am trying to illustrate in my posting above, there are a LOT more uses for oil than for fuels. Most people have little to no idea that even the clothes on their backs have oils in them. I find it commical that those who are all about "healthy/green" living are adding to the problem with the daily consumptions of bottled water. Can you imagine the demand for oil should populations like India and China take up the American appetite for bottled water?
    As nations/societies drive for increasing GDP one has to look at the life cycles of oil and it's uses to find that growing GDPs world wide will also place greater demands on oil. Most of the products that drive GDP have oil and it's associated uses in them. Some of these materials are recyclable and add some to the conservation of oil usage (be it very minimal) and most are an ultimate loss of the resource. The large population societies that are now coming to economic growth (in my opinion) will add even greater demands for oil and the industries that utilize it in manufacturing and transportation. To consider the hidden and often times overlooked uses for oil on the scale it will drive, it is no wonder oil prices are rising.
    My own comment to the Obama administration seeking out fraud and manipulation is just another example of a clueless administration. It is their own policy and ignorance of cause and effect that has driven prices higher. Restrictions of oil production in this country has added a burden to supply and the reductions of supply from other sources will drive the prices higher. Even their own policies for stabilizing the economy adds to the use as the ink to print more money is a petroleum base....lolol. This, to me, is just another FINE example of a wasteful administration's use of our tax dollars chasing a boogie man in the dark that does not exist!
    23 Apr 2011, 09:14 AM Reply Like
  • kmi
    , contributor
    Comments (4587) | Send Message
     
    Just really quickly since this post is aging - I don't deny $ devaluation plays a role but it doesn't reflect why over the course of the last year or so oil-NG broke down, should not NG also be rising in tandem as it has historically?

     

    All said, I don't see any reason for the AG not to investigate this and let the sun shine, transparency produces no losers.
    23 Apr 2011, 12:20 PM Reply Like
  • Tom Au, CFA
    , contributor
    Comments (6879) | Send Message
     
    This could "criminalize" trading.
    21 Apr 2011, 03:10 PM Reply Like
  • rick flair
    , contributor
    Comments (369) | Send Message
     
    the 'kingpin' in this entire nefarious scheme , is the FED!!!!!!! can they not get that?
    21 Apr 2011, 03:13 PM Reply Like
  • John A Shulli
    , contributor
    Comments (647) | Send Message
     
    It was only a matter of time before BHO and Dept of Justice start looking into "high oil prices".
    Classic liberal response to a situation they help create their rules and regulations via the courts and the EPA.........
    21 Apr 2011, 03:13 PM Reply Like
  • vboring
    , contributor
    Comments (203) | Send Message
     
    How far is the Fed Reserve Bank building from the Attorney General's Office?

     

    They might have to take a cab to catch the responsible party if it is too far to walk.
    21 Apr 2011, 03:16 PM Reply Like
  • Jackson999
    , contributor
    Comments (471) | Send Message
     
    Clearly it is speculation. There is a glut of oil from all the stories I have read. So where is that supply and demand thingy?
    21 Apr 2011, 03:22 PM Reply Like
  • Morg
    , contributor
    Comments (250) | Send Message
     
    Yesterdays EIA Petroleum Inventories: Crude -2.32M barrels, vs. consensus of +0.8M. Gasoline -1.58M barrels vs. consensus of -0.7M. Distillates -2.5M vs. consensus of +0.1M.

     

    This would be less supply not more. There is also concern about the world's largest oil exporter (Saudi Arabia) having production issues which SA just posted. earlywarn.blogspot.com...
    21 Apr 2011, 03:46 PM Reply Like
  • rick flair
    , contributor
    Comments (369) | Send Message
     
    how about stopping 3 wars. ya think that might do it too?
    21 Apr 2011, 03:25 PM Reply Like
  • rick flair
    , contributor
    Comments (369) | Send Message
     
    imean THINK ABOUT WHAT YOUR SAYING AND DOING!!!! you've started 3 wars, killed thousands of people, and IT STILL has no effect on the 'happy face' price of gas, so now you INVENT a commitee to study it? bwbwhahahahahahahahaha... make it stop!!!
    21 Apr 2011, 03:26 PM Reply Like
  • rick flair
    , contributor
    Comments (369) | Send Message
     
    WHAT A MAROON...................
    21 Apr 2011, 03:27 PM Reply Like
  • nedly66
    , contributor
    Comments (22) | Send Message
     
    He could just tell Bernanke to stop printing money....

     

    I suppose that would be too QEasy
    21 Apr 2011, 03:33 PM Reply Like
  • enigmaman
    , contributor
    Comments (2868) | Send Message
     
    Based on the amount of "Thumbs down" the Obamatrons must be monitoring this SA article to counter the resulting disparaging remarks directed at the administration, this is how the Admin will keep track of the gasoline price gouging they expect to find, 1984 anyone "Big Brother is watching"
    21 Apr 2011, 03:47 PM Reply Like
  • John A Shulli
    , contributor
    Comments (647) | Send Message
     
    The "Thumbs Down" crowd is out in full force today,could it be that so many posters have the nerve to question the "anointed one" and his far left crew??????
    21 Apr 2011, 03:56 PM Reply Like
  • Derek A. Barrett
    , contributor
    Comments (3554) | Send Message
     
    John,

     

    Everything in life is a contest. Anyone who disagrees with you, must play for the other team. It's your goal in life to score points against them and "win". They are evil people and just need to have things explained to them so they will agree 100% with your point of view.

     

    Everything must be viewed from this paradigm.

     

    Forget that working together thing, that's for wimps and blasphemers.
    21 Apr 2011, 04:19 PM Reply Like
  • Morg
    , contributor
    Comments (250) | Send Message
     
    Again I agree with you Lightway.

     

    It seems both sides of the spectrum have become extremely polarized and "winning" for one's side or preventing the other side from getting a win is more important than finding some middle ground.

     

    But as I noted on my post earlier, and as others have noted, there is a big thumbs down crew out who are not stating why they disagree with the points being made. I find this personally frustrating as it is hard to find middle ground without dialogue.
    21 Apr 2011, 05:21 PM Reply Like
  • John A Shulli
    , contributor
    Comments (647) | Send Message
     
    The problem is we been down this road before.The Carter Adm passed a excessive profit tax on Big Oil and what happen.The government didn't collect nearly the amt of taxes they expected because Big Oil stop drilling in America.
    A few years later,there was a hew and cry about the huge yachts the rich were buying and they passed a tax on yachts costing over $100,000 and over the length of the yacht and what happen.
    The rich just ordered their yachts from overseas yards and register them in foreign countries,mean while yacht builders in the Northeast closed their doors and declared bankruptcy forcing many former employees on unemployment and welfare.
    After they seen what damage they did to American shipyards and their employees,they rescinded the yacht tax but by then it was to late for those builders and the communities they help support....
    21 Apr 2011, 05:45 PM Reply Like
  • Tack
    , contributor
    Comments (16281) | Send Message
     
    "Those who do not learn from history are condemned to repeat it."

     

    -- George Santayana
    21 Apr 2011, 06:03 PM Reply Like
  • Bruce Vanderveen
    , contributor
    Comments (290) | Send Message
     
    Actually, I like Obama. A bit financially naive maybe, but . . . a nice guy. Said the same about Jimmy Carter.
    21 Apr 2011, 04:09 PM Reply Like
  • Tom Au, CFA
    , contributor
    Comments (6879) | Send Message
     
    That's why he won the Nobel Peace Prize.

     

    seekingalpha.com/insta...
    21 Apr 2011, 04:21 PM Reply Like
  • davidbdc
    , contributor
    Comments (3194) | Send Message
     
    Fraud? I didn't think that was a crime any more!

     

    If he wants to investigate fraud, lets start with all the liar's loans and the executives that gave the orders to sell as many as possible.

     

    Or lets go to Dick Fuld, who signed off on moving things off the balance sheet prior to quarterly results and then back on after the results are reported.

     

    Or the AIG London guy who wrote insurance contracts against no assets!!

     

    Oh, they are all "too big to fail" (ie too politically connected to fail).

     

    But its the mean small business owners of gas stations that Obama is going to be keeping an eye on for price gouging!!!!

     

    yeah that about sums it up.
    21 Apr 2011, 04:32 PM Reply Like
  • Poor Texan
    , contributor
    Comments (3527) | Send Message
     
    Just the prelude to nationalization of the oil companies.
    21 Apr 2011, 04:56 PM Reply Like
  • PoorBrokeGraduate
    , contributor
    Comments (30) | Send Message
     
    speculators don't cause the problem. they merely point out loudly that there is a real problem.
    rather than assemble a team to prosecute, appoint them to find solutions to our energy crisis.
    makes no sense that we trust our energy security to a region/country that produced 15/19 of the 9/11 hijackers.
    we import over 1.1 million bpd x 365 days/yr from Saudi Arabia, sending over $44 billion/yr over there.
    why send that money there to support terrorism when we should be helping american companies find solutions at home.
    21 Apr 2011, 04:59 PM Reply Like
  • Derek A. Barrett
    , contributor
    Comments (3554) | Send Message
     
    Good point
    21 Apr 2011, 05:02 PM Reply Like
  • Stoploss
    , contributor
    Comments (1713) | Send Message
     
    It prevents the "spread of democracy".
    21 Apr 2011, 05:53 PM Reply Like
  • johnc6645
    , contributor
    Comment (1) | Send Message
     
    "Guest" JohnC here,1st post for me, late too, (Friday)
    Good discussion overall. More info and sound points of view here than on any canned website stuff. Have to agree with Morg and Lightway on the value of dialogue, logic, middle ground and no winner. I don't care about someone's politics. Wasted time. I did learn from facts and logic. Thanks.
    26 Apr 2011, 08:32 PM Reply Like
  • Derek A. Barrett
    , contributor
    Comments (3554) | Send Message
     
    "CFTC Charges Traders Controlled By World's Largest Tanker Company With Oil Price Manipulation After Making "Shitload" Of Money"

     

    www.zerohedge.com/arti...
    24 May 2011, 11:49 PM Reply Like
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