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"60 Minutes": The '08 Oil-Speculation HUSTLE!!!

Discussion in 'U.S. Politics' started by Mr. Shaman, Jan 11, 2009.

  1. Mr. Shaman

    Mr. Shaman New Member

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    .....While Bush-fans still insist it was a lack of "drilling"....kinda like their fairy-tale of "shortages" in '73. :rolleyes:
     
  2. Sihouette

    Sihouette Active Member

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    Uh oh! Now who were those speculators working for exactly? ;)

    Looks like a paper-trail to price-fixing (gouging) has begun. Say, don't we have laws regulating monopolies? Wonder what else involving BigOil and the Iraq-invasion era will surface? :cool:
     
  3. PLC1

    PLC1 Moderator Staff Member

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    Those shortages of '73 were quite real, trust me. They may have been engineered by OPEC, but were nontheless real, at least in the USA.

    Somehow, we don't hear much about "drill, baby, drill" any more. Why is that? Maybe the strategy of pumping up our tires is working.

    (If you're wondering whether that was sarcasm, then you just don't recognize it very readily.)
     
  4. pocketfullofshells

    pocketfullofshells Well-Known Member

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    Yea it is nice to know that that idiot is not in higher office....ahhhhh collective sigh or relief
     
  5. Pidgey

    Pidgey Well-Known Member

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    We probably aren't hearing much call for drilling now because so many businesses went Tango Uniform or nearly so from the price runup over the last few years. And it wasn't all oil either--it was steel prices and a lot of other raw materials. It's a lot easier and quicker to destroy or cripple a business than it is to build one up and that's what you're seeing: significant demand destruction.

    On the energy side, everyone's down several percentage points on consumption and still going down. You have to understand, though, that not all oil was going for the spot market prices when they were at their highest. Most oil is bought on long-term futures and so a lot of our oil was already bought months and years before. The amount of oil that actually traded at that time for those prices was just the small percentage left that folks were buying to top off their economies. However, it was a glimpse into the future. The price ran up more than a little bit because nobody could manage to fill those contracts cheaply or even at all--many oil producing regions couldn't so much as squeeze out another drop try as they might (and don't think for a minute that they weren't trying at those prices!).

    It was probably the fact that they couldn't that scared the pants off the traders and industry. Call it "the handwriting on the wall".
     
  6. Mr. Shaman

    Mr. Shaman New Member

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    Typically....those folks who always get the first-shot at IPOs. :rolleyes:
     
  7. Mr. Shaman

    Mr. Shaman New Member

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    I've never given much credence to people who say "Trust me."

    Too-often, those people rely on what They say. :rolleyes:

     
  8. Mr. Shaman

    Mr. Shaman New Member

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    DITTO!!!!!!!!!!!!!! (ouch!!)​
     
  9. Mr. Shaman

    Mr. Shaman New Member

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    It's a miracle!! No Halliburton participation!!! :eek:

     
  10. Mr.Dysfunctional

    Mr.Dysfunctional New Member

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    Next Mr.Shaman will be saying Embezzling and price gouging is a conservatives basic fundamental prinicpals and moral stance.
     
  11. Mr. Shaman

    Mr. Shaman New Member

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    Nahhhhhhhhhhhhh.....such things are still considered Business, As Usual, for "conservatives".​
     
  12. PLC1

    PLC1 Moderator Staff Member

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    Are the conservatives the Iranians who set up dummy companies to buy weapon parts from the US, or are they the businesspeople who sell to those dummy corporations, never suspecting that their products are actually going to Iran?

    Just what does "conservative" mean in your lexicon?
     
  13. Mr. Shaman

    Mr. Shaman New Member

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    Gee....I thought Homeland Security was supposed to take-care of such issues.

    :rolleyes:
     
  14. PLC1

    PLC1 Moderator Staff Member

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    Homeland Security is a government operation. Conservatives don't expect government operations to succeed very often.
     
  15. Mr. Shaman

    Mr. Shaman New Member

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    You should have had Dana Perino's job.​
     
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