Stop Oil Speculation Now
 

Got an Email from my airline frequent flier program and they want all frequent fliers to use this site to contact their congressmen to lower the cost of oil. Don't know if it will do much good, but I doubt if it can hurt.
http://www.stopoilspeculationnow.com/

Re: Stop Oil Speculation Now
 

Ahem, we're all Hummer owners, we speculate in oil! Don't you?!

Re: Stop Oil Speculation Now
 

Actually, as backwards as this is going to sound; market speculation has been shown to reduce overall prices along long time horizons.

I know, right now it sucks.

Re: Stop Oil Speculation Now
 

One of the good things to come of this blip is that it's shutting the mouths of the anti-domestic drilling ass holes.

Re: Stop Oil Speculation Now
 

Damn right! Just the talk of drilling has dropped the price! Imagine what would happen if we could get those idiots in Congress to free up ANWR and offshore drilling!

Re: Stop Oil Speculation Now
 

....people would be working in an oil patch called ANWR?!

Alaskan citizens would see an increase in the oil revenue dividend payment.

Alaska unemployment would decrease.

:D

Re: Stop Oil Speculation Now
 

To add a bit of info about drilling off shore. It does not take 10 years for oil to reach point of use. It does not even take 5 years. It takes anywhere from 1 to 2 years for oil to be in system. With the newer tech. now some think they could do it in under 1 year.

Land rigs can drill 2 miles roughly 20 days and oil will be pumping out and into storage tanks for trucks to pick up or if near an oil line it gets tied in to the trunk line with a meter. The same for the natural gas that is harvested with oil. In places in Eastern USA oil and gas is 1 mile give or take and there is 2 year waiting list to get a hole drilled that will produce from 20 barrels too 200 barrels a day not counting the natural gas.

The people making all the laws do things just to make themselves electable evven if it really is not what may be best. 10 years ago when slick willy was in office the Rebulicans tried hard to push for drilling in presently discussed areas. Dems shot it down. It is a shame people have to be put through this hard time to get resources that would shut thr spiget off to Arab wells or slow it down bad. Our automakers should have been building better engines that would perform as well on natrural gas as any fuel. Our country has so much natural gas we would never run out. If an area is afraid of nuke power plants go to all natural gas power plants which is happening in many cases.

Well, the just wanted to add what very little I know and my opinion. The oil can be gotten to market faster than led to believe and speculation is in the market and it has to be there for liquidity just like grain markets as well as precious metals. The worst thing that can happen is for there to be no buyers. Oil right now is being driven not by what the situation it is right now but, what people is guessing what is going to be happening down the road and mainly if USA and Isreal will go to war with Iran. Isreal is the really only true friend in mideast. The one place that has always been the one beach head already established if all Arab nations turned hard on USA and Isreal. No matter what anyone does with Iran in the state it is, there is going to be a WWWIII in mideast and the allies on each side will be similar to WWII except Russia will be with Iran and other Arabs and China will be with US as well as a few more minor changes.

TAZ

Re: Stop Oil Speculation Now
 

I would like to see what would happen if we occasionally dumped some of our reserves onto the market at random times. We would find out just how much speculation is driving the price real fast if speculators had to sweat out whether we would pull the rug out every once in a while. It the only way to keep the global market in check. I don't know why no one has thought of doing this.